Income Taxes (Tables)

12 Months Ended

Apr. 30, 2016

Income Tax Disclosure [Abstract]

Schedule Of Income Tax Expense

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

Schedule Of Effective Income Tax Rate Reconciliation

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	%

Schedule Of Significant Components Of Deferred Tax Assets And Liabilities

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