2. ACQUISITIONS

During the year ended April 30, 2011, the Company acquired 89 stores through a variety of single store and multi-store transactions with several unrelated third parties. The acquisitions were recorded by allocating the cost of the assets acquired, including intangible assets and liabilities assumed, based on their estimated fair values at the acquisition date. The excess of the cost of the acquisition over the net amounts assigned to the fair value of the assets acquired and the liabilities assumed is recorded as goodwill. All of the goodwill associated with these transactions will be deductible for income tax purposes over 15 years.

Allocation of the purchase price for the transactions in aggregate is as follows (in thousands):

Assets acquired:
Inventories	$	7,722
Property and equipment		75,867
Total assets		83,589
Liabilities assumed:
Accrued expenses		567
Total liabilities		567
Net tangible assets acquired, net of cash		83,022
Goodwill		30,545
Total consideration paid, net of cash acquired	$	113,567

The following unaudited pro forma information presents a summary of our consolidated results of operations as if the transactions referenced above occurred at the beginning of the fiscal year for each of the periods presented (amounts in thousands, except per share data):

		Years Ended April 30,
		2011	2010
Total revenues	$	5,843,566	4,969,192
Net earnings	$	98,911	125,027
Earnings per share
Basic	$	2.34	2.46
Diluted	$	2.32	2.45