Income Taxes (Tables)

12 Months Ended

Apr. 30, 2021

Income Tax Disclosure [Abstract]

Schedule Of Income Tax Expense

Income tax expense was comprised of the following:

	FISCAL YEARS ENDED APRIL 30
(in thousands)	2021		2020		2019
CURRENT
Federal	$	25,683	$	29,072	$	25,649
State	5,639		7,581		8,231
Foreign	1,018		533		1,125
Total current expense	32,340		37,186		35,005
DEFERRED
Federal	(11,426)		(7,167)		(4,498)
State	(2,039)		(4,190)		(3,266)
Foreign	(203)		(142)		(41)
Total deferred benefit	(13,668)		(11,499)		(7,805)
Total expense	18,672		25,687		27,200
Other comprehensive income (loss)	(1,156)		(573)		190
Total comprehensive income tax expense	$	17,516	$	25,114	$	27,390

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
	2021		2020		2019
Federal statutory rate	21.0	%	21.0	%	21.0	%
Effect of:
Federal income tax credits	(1.2)	%	(0.9)	%	(1.4)	%
Stock compensation	0.2		(0.1)		(0.5)
Effect of 2017 Tax Act	—		—		(1.1)
Meals and entertainment	0.1		0.3		0.3
Valuation allowance for deferred taxes	—		0.7		0.6
Foreign	0.6		0.4		0.8
Other	0.2		0.7		1.2
Total	(0.1)	%	1.1	%	(0.1)	%
Effective federal income tax rate	20.9	%	22.1	%	20.9	%
State income taxes, net of federal tax effect	3.2		3.4		3.6
Effective income tax rate	24.1	%	25.5	%	24.5	%

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)	2021		2020
Deferred tax assets:
Accounts receivable	$	1,781	$	1,730
Pension benefits	815		—
Inventory	692		—
Product liability	1,321		862
Employee benefits	5,746		5,189
Tax credit carryforwards	5,433		4,995
Operating leases	32,975		33,258
Other	2,086		4,330
Gross deferred tax assets, before valuation allowance	50,849		50,364
Valuation allowance	(4,914)		(4,415)
Gross deferred tax assets, after valuation allowance	45,935		45,949
Deferred tax liabilities:
Inventory	—		125
Depreciation	22,116		24,147
Intangibles	29,123		40,677
Operating leases	31,320		32,325
Other	606		695
Gross deferred tax liabilities	83,165		97,969
Net deferred tax liability	$	37,230	$	52,020

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to unrecognized tax benefits, excluding the federal tax benefit of state tax deductions:

	APRIL 30
(in thousands)	2021		2020
Change in Unrecognized Tax Benefits
Balance at beginning of year	$	2,305	$	2,240
Additions based on tax positions related to the current year	115		65
Reductions for tax positions of prior years settlements	(929)		—
Balance at end of year	$	1,491	$	2,305