XML 54 R40.htm IDEA: XBRL DOCUMENT
v3.25.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Apr. 30, 2025
Income Tax Disclosure [Abstract] |
Schedule Of Income Tax Expense | Income tax expense was comprised of the following:
| FISCAL YEARS ENDED APRIL 30,
(in thousands) | 2025 |  | 2024 |  | 2023
CURRENT |  |  |  |  |
Federal | $ | 25,153 |  |  | $ | 34,525 |  |  | $ | 39,180 |
State | 9,836 |  |  | 9,828 |  |  | 12,937 |
Foreign | 1,150 |  |  | 964 |  |  | 998 |
Total current expense | 36,139 |  |  | 45,317 |  |  | 53,115 |
DEFERRED |  |  |  |  |
Federal | (7,425) |  |  | (7,156) |  |  | (20,195) |
State | (1,436) |  |  | (1,866) |  |  | (3,869) |
Foreign | (196) |  |  | (543) |  |  | (88) |
Total deferred benefit | (9,057) |  |  | (9,565) |  |  | (24,152) |
Total expense | 27,082 |  |  | 35,752 |  |  | 28,963 |
Tax benefit included in other comprehensive income | (2,303) |  |  | (1,020) |  |  | (50) |
Total comprehensive income tax expense | $ | 24,779 |  |  | $ | 34,732 |  |  | $ | 28,913 |
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,
| 2025 |  | 2024 |  | 2023
Federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Effect of: |  |  |  |  |
Federal income tax credits | (3.4) |  |  | (3.1) |  |  | (2.7) |
Stock compensation | (0.2) |  |  | (0.2) |  |  | 0.2 |
Uncertain tax positions | (1.0) |  |  | — |  |  | (0.2) |
Meals and entertainment | 0.3 |  |  | 0.3 |  |  | 0.2 |
Foreign | 0.1 |  |  | 0.1 |  |  | 0.3 |
Other | (0.4) |  |  | 1.5 |  |  | (0.4) |
State income taxes, net of federal tax effect | 5.0 |  |  | 3.9 |  |  | 5.2 |
Effective income tax rate | 21.4 | % |  | 23.5 | % |  | 23.6 | %
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) | 2025 |  | 2024
Deferred tax assets: |  |  |
Accounts receivable | $ | 1,326 |  |  | $ | 1,737 |
Inventory | 2,294 |  |  | 3,009 |
Product liability | 1,044 |  |  | 1,395 |
Employee benefits | 6,196 |  |  | 6,112 |
Tax credit carryforwards | 6,371 |  |  | 6,087 |
Operating leases liabilities | 34,201 |  |  | 33,454 |
Section 174 research and development | 19,102 |  |  | 9,542 |
Other | 4,630 |  |  | 4,038 |
Gross deferred tax assets, before valuation allowance | 75,164 |  |  | 65,374 |
Valuation allowance | (6,289) |  |  | (5,878) |
Gross deferred tax assets, after valuation allowance | 68,875 |  |  | 59,496 |
Deferred tax liabilities: |  |  |
Pension benefits | 241 |  |  | 235 |
Depreciation | 23,181 |  |  | 25,059 |
Operating leases right-of-use assets | 31,715 |  |  | 30,981 |
Interest rate swaps | 155 |  |  | 2,448 |
Other | 2,097 |  |  | 647 |
Gross deferred tax liabilities | 57,389 |  |  | 59,370 |
Net deferred tax (asset) liability | $ | (11,486) |  |  | $ | (126) |
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) | 2025 |  | 2024
Balance at beginning of year | $ | 2,892 |  |  | $ | 2,892 |
Reductions for tax positions of prior years' settlements | (1,286) |  |  | — |
Balance at end of year | $ | 1,606 |  |  | $ | 2,892 |

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 Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration