Income Taxes

Income tax expense was comprised of the following:



	FISCAL YEARS ENDED APRIL 30
(in thousands)	2016			2015			2014

CURRENT EXPENSE
Federal	$	18,239		$	12,663		$	4,825
State	3,195			1,890			406
Total current expense	21,434			14,553			5,231

DEFERRED EXPENSE
Federal	10,179			3,024			6,076
State	1,450			1,311			1,902
Total deferred expense	11,629			4,335			7,978
Total expense	33,063			18,888			13,209
Other comprehensive income (loss)	(4,110		)	(9,510		)	3,944
Total comprehensive income tax expense	$	28,953		$	9,378		$	17,153

The Company's effective income tax rate varied from the federal statutory rate as follows:



	FISCAL YEARS ENDED APRIL 30
	2016		2015		2014
Federal statutory rate	35.0	%	35.0	%	35.0	%
Effect of:
Research and experimentation tax credit	—	%	(2.3	)%	—	%
Meals and entertainment	0.3		0.5		0.8
Domestic production deduction	(2.5	)	(2.4	)	(1.8	)
Other	(0.1	)	0.1		0.7
Total	(2.3	)%	(4.1	)%	(0.3	)%

Effective federal income tax rate	32.7	%	30.9	%	34.7	%
State income taxes, net of federal tax effect	3.3		3.8		4.5
Effective income tax rate	36.0	%	34.7	%	39.2	%

Included in the fiscal year 2015 effective income tax rate are research and experimentation tax credits for fiscal years 2011 through 2014. The research and experimentation tax credit for fiscal year 2016 is not estimated to be significant.

Income taxes paid were $24.5 million, $13.3 million and $4.3 million for fiscal years 2016, 2015 and 2014, respectively.

The significant components of deferred tax assets and liabilities were as follows:



	APRIL 30
(in thousands)	2016			2015
Deferred tax assets:
Pension benefits	$	24,930		$	23,074
Accounts receivable	5,981			5,523
Product liability	1,141			1,031
Employee benefits	7,101			7,429
State tax credit carryforwards	4,867			—
Other	353			266
Gross deferred tax assets, before valuation allowance	44,373			37,323
Valuation allowance	(3,061		)	—
Gross deferred tax assets, after valuation allowance	41,312			37,323

Deferred tax liabilities:
Inventory	440			451
Depreciation	8,298			3,485
	8,738			3,936

Net deferred tax asset	$	32,574		$	33,387

The Company has recorded a valuation allowance related to deferred tax assets for certain state investment tax credit (ITC) carryforwards. Deferred tax assets are reduced by a valuation allowance when, after considering all positive and negative evidence, it is determined that it is more likely than not that some portion, or all, of the deferred tax asset will not be realized.

The gross amount of state tax credit carryforwards related to state ITCs as of April 30, 2016 was $5.8 million. These credits expire in various years beginning in fiscal 2020. Net of the federal impact and related valuation allowance, the Company has recorded $1.8 million of deferred tax assets related to these credits. The Company accounts for ITCs under the deferral method, under which the tax benefit from the ITC is deferred and amortized into income tax expense over the book life of the related property. As of April 30, 2016, a deferred credit balance of $1.8 million is included in other liabilities on the balance sheet.