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Acquisitions Acquisitions | 6 Months Ended
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Oct. 31, 2017
Business Combinations [Abstract] |
Acquisitions | Acquisitions During the first six months of fiscal 2018, the Company acquired 14 stores through a variety of single store and multi-store transactions with several unrelated third parties. The stores were valued using a discounted cash flow model on a location by location basis. The acquisitions were recorded in the financial statements by allocating the purchase price to 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:
Assets Acquired: |  |
Inventories & other assets |  | $ | 1,028 |
Land, property and equipment |  | 17,240 |
Total Assets |  | 18,268 |
Liabilities Assumed: |  |
Accrued expenses |  | — |
Net tangible assets acquired, net of cash |  | 18,268 |
Goodwill and other intangible assets |  | 4,513 |
Total consideration paid, net of cash acquired |  | $ | 22,781 |
The allocation of the purchase price to assets acquired and liabilities assumed is preliminary pending finalization of management’s analysis. 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 first fiscal year of the periods presented (amounts in thousands, except per share data):
| Six months ended October 31,
| 2017 |  | 2016
Total revenues | $ | 4,266,959 |  |  | $ | 3,916,012 |
Net earnings | $ | 106,209 |  |  | $ | 125,401 |
Earnings per common share: |  |  |
Basic | $ | 2.79 |  |  | $ | 3.20 |
Diluted | $ | 2.76 |  |  | $ | 3.16 |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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