Income Taxes (Tables)

12 Months Ended

Apr. 30, 2024

Schedule of Components of Income Tax Expense (Benefit)

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


	Years ended April 30,
	2024		2023		2022
Current tax expense:
Federal	$	78,542	$	95,336	$	4,382
State	22,394		22,365		13,835
	100,936		117,701		18,217
Deferred tax expense	53,252		23,126		82,721
Total income tax expense	$	154,188	$	140,827	$	100,938

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,
	2024		2023
Deferred tax assets:
Accrued liabilities and reserves	$	9,075	$	7,031
Deferred revenue	15,222		15,565
Accrued bonus compensation	10,272		9,361
Workers compensation	11,281		11,500
Operating and finance lease obligations	55,739		52,464
Asset retirement obligations	10,036		9,404
Deferred compensation	2,909		3,242
Equity compensation	8,018		8,305

State net operating losses and tax credits	2,568		1,807
Other	4,523		3,551
Total gross deferred tax assets	129,643		122,230
Less valuation allowance	550		250
Total net deferred tax assets	129,093		121,980
Deferred tax liabilities:
Property and equipment depreciation	(667,680)		(617,154)
Goodwill	(52,900)		(43,900)
Other	(5,363)		(4,524)
Total gross deferred tax liabilities	(725,943)		(665,578)
Net deferred tax liability	$	(596,850)	$	(543,598)

Schedule of Effective Income Tax Rate Reconciliation


	Years ended April 30,
	2024		2023		2022
Income taxes at the statutory rates	21.0	%	21.0	%	21.0	%

Federal tax credits	(1.0)	%	(1.3)	%	(1.8)	%
State income taxes, net of federal tax benefit	3.7	%	4.0	%	3.8	%
Impact of phased-in state law changes, net of federal benefit	(1.0)	%	(0.4)	%	(0.8)	%
ASU 2016-09 benefit (share-based compensation)	(0.1)	%	(0.3)	%	(1.0)	%
Nondeductible executive compensation	0.9	%	1.1	%	1.2	%
Other	—	%	(0.1)	%	0.5	%
	23.5	%	24.0	%	22.9	%

Schedule of Unrecognized Tax Benefits

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


	2024		2023
Beginning balance	$	10,957	$	10,259
Additions based on tax positions related to current year	2,570		2,867


Reductions due to lapse of applicable statute of limitations	(2,780)		(2,169)

Ending balance	$	10,747	$	10,957