XML 55 R13.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Income Taxes | 12 Months Ended
--- | ---
Apr. 30, 2015
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES Income tax expense attributable to earnings consisted of the following components:
| Years ended April 30,
| 2015 |  | 2014 |  | 2013
Current tax expense |  |  |  |  |
Federal | $ | 49,593 |  |  | $ | 44,078 |  |  | $ | 23,519 |
State | 7,093 |  |  | 5,657 |  |  | 4,455 |
| 56,686 |  |  | 49,735 |  |  | 27,974 |
Deferred tax expense | 44,711 |  |  | 17,089 |  |  | 31,828 |
Total income tax expense | $ | 101,397 |  |  | $ | 66,824 |  |  | $ | 59,802 |
The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities were as follows:
| As of April 30,
| 2015 |  | 2014
Deferred tax assets |  |  |
Accrued liabilities and reserves | $ | 8,593 |  |  | $ | 16,830 |
Property and equipment depreciation | 12,846 |  |  | 11,788 |
Workers compensation | 9,536 |  |  | 8,501 |
Deferred compensation | 6,653 |  |  | 6,272 |
Equity compensation | 3,767 |  |  | 3,598 |
State net operating losses & tax credits | 626 |  |  | 2,757 |
Other | 1,787 |  |  | 3,265 |
Total gross deferred tax assets | 43,808 |  |  | 53,011 |
Less valuation allowance | 228 |  |  | — |
Total net deferred tax assets | 43,580 |  |  | 53,011 |
Deferred tax liabilities |  |  |
Property and equipment depreciation | (363,965 | ) |  | (332,095 | )
Goodwill | (18,319 | ) |  | (14,989 | )
Other | (738 | ) |  | (658 | )
Total gross deferred tax liabilities | (383,022 | ) |  | (347,742 | )
Net deferred tax liability | $ | (339,442 | ) |  | $ | (294,731 | )
At April 30, 2015, the Company had net operating loss carryforwards for state income tax purposes of approximately $69,594, which are available to offset future state taxable income. These net operating loss carryforwards expire during the years 2019 through 2034. In addition, the Company had state alternative minimum tax credit carryforwards of approximately $156, which are available to reduce future state regular income taxes over an indefinite period. There was a valuation allowance of $228 and $0 for state net operating loss deferred tax assets as of April 30, 2015 and 2014. The change in the valuation allowance was $228 and $0 for the years ending April 30, 2015 and 2014, respectively. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected taxable income, and tax planning strategies in making this assessment. Total reported tax expense applicable to the Company’s continuing operations varies from the tax that would have resulted from applying the statutory U.S. federal income tax rates to income before income taxes. Out of period adjustments of $2,760 were recorded in fiscal 2014.
| Years ended April 30,
| 2015 |  | 2014 |  | 2013
Income taxes at the statutory rates | 35.0 | % |  | 35.0 | % |  | 35.0 | %
Federal tax credits | (1.7 | )% |  | (2.1 | )% |  | (1.8 | )%
State income taxes, net of federal tax benefit | 3.1 | % |  | 3.2 | % |  | 2.4 | %
Out of period adjustments | — | % |  | (1.4 | )% |  | — | %
Other | (0.4 | )% |  | (0.2 | )% |  | 1.0 | %
| 36.0 | % |  | 34.5 | % |  | 36.6 | %
The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company had a total of $8,043 and $9,244 in gross unrecognized tax benefits at April 30, 2015 and 2014, respectively which is recorded in other long-term liabilities in the consolidated balance sheet. Of this amount, $5,264 represents the amount of unrecognized tax benefits that, if recognized, would impact our effective tax rate. Unrecognized tax benefits decreased ($1,201) during the twelve months ended April 30, 2015, due primarily to the expiration of certain statute of limitations exceeding the increase associated with income tax filing positions for the current year. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
| 2015 |  | 2014
Beginning balance | $ | 9,244 |  |  | $ | 8,938 |
Additions based on tax positions related to current year | 1,186 |  |  | 1,229 |
Additions for tax positions of prior years | 13 |  |  | 415 |
Reductions for tax positions of prior years | — |  |  | — |
Reductions due to lapse of applicable statute of limitations | (2,400 | ) |  | (1,338 | )
Settlements | — |  |  | — |
Ending balance | $ | 8,043 |  |  | $ | 9,244 |
The total net amount of accrued interest and penalties for such unrecognized tax benefits was $152 and $402 at April 30, 2015 and 2014, respectively, and is included in other long-term liabilities. Net interest and penalties included in income tax expense for the twelve month period ended April 30, 2015 was a decrease in tax expense of $250 and an increase of $116 for the year ended April 30, 2014. A number of years may elapse before an uncertain tax position is audited and ultimately settled. It is difficult to predict the ultimate outcome or the timing of resolution for uncertain tax positions. It is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months. These changes could result from the expiration of the statute of limitations, examinations or other unforeseen circumstances. The State of Illinois is examining tax years 2011 and 2012. Additionally, the IRS is currently examining tax year 2012. The Company has no other ongoing federal or state income tax examinations. The Company does not have any outstanding litigation related to tax matters. At this time, the Company’s best estimate of the reasonably possible change in the amount of the gross unrecognized tax benefits is a decrease of $2,891 during the next twelve months mainly due to the expiration of certain statute of limitations. The federal statute of limitations remains open for the years 2011 and forward. Tax years 2010 and forward are subject to audit by state tax authorities depending on open statute of limitations waivers and the tax code of each state. On May 1, 2014, the Company adopted the Financial Accounting Standards Board Accounting Standards Update (“ASU”) No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The pronouncement requires unrecognized tax benefits to be offset on the balance sheet by any same-jurisdiction net operating loss or tax credit carryforward that would be used to settle the position with a tax authority. The adoption of ASU 2013-11 did not have a material impact on the Company’s consolidated financial statements.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration