Income Taxes (Tables)

12 Months Ended

Apr. 30, 2025

Schedule of Components of Income Tax Expense (Benefit)

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


	Years ended April 30,
	2025		2024		2023
Current tax expense:
Federal	$	85,207	$	78,542	$	95,336
State	20,764		22,394		22,365
	105,971		100,936		117,701
Deferred tax expense	59,958		53,252		23,126
Total income tax expense	$	165,929	$	154,188	$	140,827

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,
	2025		2024
Deferred tax assets:
Accrued liabilities and reserves	$	8,996	$	9,075
Deferred revenue	17,845		15,222
Accrued bonus compensation	10,023		10,272
Workers compensation	13,013		11,281
Operating and finance lease obligations	144,997		55,739
Asset retirement obligations	12,921		10,036
Deferred compensation	3,151		2,909
Equity compensation	8,944		8,018

State net operating losses and tax credits	2,500		2,568
Other	8,197		4,523
Total gross deferred tax assets	230,587		129,643
Less valuation allowance	550		550
Total net deferred tax assets	230,037		129,093
Deferred tax liabilities:
Property and equipment depreciation	(799,404)		(667,680)
Goodwill	(66,754)		(52,900)
Other	(10,784)		(5,363)
Total gross deferred tax liabilities	(876,942)		(725,943)
Net deferred tax liability	$	(646,905)	$	(596,850)

Schedule of Effective Income Tax Rate Reconciliation


	Years ended April 30,
	2025		2024		2023
Income taxes at the statutory rates	21.0	%	21.0	%	21.0	%

Federal tax credits	(1.0)	%	(1.0)	%	(1.3)	%
State income taxes, net of federal tax benefit	3.4	%	3.7	%	4.0	%
Impact of phased-in state law changes, net of federal benefit	(0.1)	%	(1.0)	%	(0.4)	%
ASU 2016-09 benefit (share-based compensation)	(0.4)	%	(0.1)	%	(0.3)	%
Nondeductible executive compensation	0.8	%	0.9	%	1.1	%
Other	(0.4)	%	—	%	(0.1)	%
	23.3	%	23.5	%	24.0	%

Schedule of Unrecognized Tax Benefits

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


	2025		2024
Beginning balance	$	10,747	$	10,957
Additions based on tax positions related to current year	2,382		2,570


Reductions due to lapse of applicable statute of limitations	(2,356)		(2,780)

Ending balance	$	10,773	$	10,747