Income Taxes (Tables)

12 Months Ended

Apr. 30, 2019

Income Tax Disclosure [Abstract]

Schedule Of Income Tax Expense

Income tax expense was comprised of the following:

	FISCAL YEARS ENDED APRIL 30
(in thousands)	2019			2018			2017
CURRENT EXPENSE
Federal	$	25,649		$	8,668		$	23,638
State	8,231			1,290			4,189
Foreign	1,125			257			—
Total current expense	35,005			10,215			27,827
DEFERRED EXPENSE
Federal	(4,498		)	17,833			8,607
State	(3,266		)	3,642			1,292
Foreign	(41		)	(71		)	—
Total deferred expense	(7,805		)	21,404			9,899
Total expense	27,200			31,619			37,726
Other comprehensive income (loss)	190			50			4,391
Total comprehensive income tax expense	$	27,390		$	31,669		$	42,117

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
	2019		2018		2017
Federal statutory rate	21.0	%	30.4	%	35.0	%
Effect of:
Federal income tax credits	(1.4	)%	(0.5	)%	(0.2	)%
Acquisition and integration costs	—		1.2		—
Stock compensation	(0.5	)	(2.4	)	(1.3	)
Meals and entertainment	0.3		0.3		0.3
Effect of Tax Act	(1.1	)	1.2		—
Domestic production deduction	—		(0.8	)	(2.2	)
Valuation allowance for deferred taxes	0.6		—		—
Foreign	0.8		—		—
Other	1.2		0.4		(0.3	)
Total	(0.1	)%	(0.6	)%	(3.7	)%
Effective federal income tax rate	20.9	%	29.8	%	31.3	%
State income taxes, net of federal tax effect	3.6		3.6		3.3
Effective income tax rate	24.5	%	33.4	%	34.6	%

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)	2019			2018
Deferred tax assets:
Accounts receivable	$	1,852		$	4,772
Product liability	2,133			2,180
Employee benefits	6,192			6,513
Tax credit carryforwards	4,439			3,937
Other	3,272			2,865
Gross deferred tax assets, before valuation allowance	17,888			20,267
Valuation allowance	(3,630		)	(2,467		)
Gross deferred tax assets, after valuation allowance	14,258			17,800
Deferred tax liabilities:
Pension benefits	119			1,035
Inventory	76			240
Depreciation	23,721			21,076
Intangibles	53,259			65,294
Other	1,059			986
Gross deferred tax liabilities	78,234			88,631
Net deferred tax liability	$	63,976		$	70,831