XML 53 R38.htm IDEA: XBRL DOCUMENT v3.7.0.1

Income Taxes (Tables)

12 Months Ended

Apr. 30, 2017

Income Tax Disclosure [Abstract]

Income Tax Expense from Continuing Operations

Income tax expense from continuing operations consists of the following (in thousands):

	For the Year Ended April 30,
	2017					2016					2015
Current:
Federal	$		61,943			$		48,961			$		22,471
State			9,349					6,622					4,188
Total current			71,292					55,583					26,659
Deferred:
Deferred federal			(6,969	)				(4,187	)				2,274
Deferred state			(871	)				(261	)				(28	)
Total deferred			(7,840	)				(4,448	)				2,246
Total income tax expense	$		63,452			$		51,135			$		28,905

Reconciliation of Provision for Income Taxes from Continuing Operations

The following table presents a reconciliation of the provision for income taxes from continuing operations at statutory rates to the provision in the consolidated financial statements (in thousands):

	For the Year Ended April 30,
	2017					2016					2015
Federal income taxes expected at 35% statutory rate	$		66,957			$		50,783			$		27,556
State income taxes, less federal income tax benefit			5,310					4,349					3,015
Stock compensation			(3,092	)				108					82
Business meals and entertainment			296					233					205
Domestic production activity deduction			(5,728	)				(4,414	)				(2,462	)
Research and development tax credit			(453	)				(215	)				(100	)
Change in uncertain tax positions			—					(91	)				—
Other			162					382					609
Total income tax expense	$		63,452			$		51,135			$		28,905

Deferred Tax Assets (Deferred Tax Liabilities) Related to Temporary Differences

Deferred tax assets (deferred tax liabilities) related to temporary differences are the following (in thousands):

		For the Years Ended April 30,
		2017				2016
Non-current tax assets/(liabilities):
Net operating loss carryforwards and tax credits		$	2,902			$	2,712
Inventories			9,325				8,789
Accrued expenses, including compensation			8,194				7,255
Environmental reserves			279				264
Product liability			515				748
Accrued promotions			4,193				2,463
Workers' compensation			796				1,082
Warranty reserve			2,114				3,194
Stock-based compensation			4,734				3,295
State bonus depreciation			1,049				937
Property taxes			(189	)			(140	)
Property, plant, and equipment			(30,017	)			(27,006	)
Intangible assets			(27,032	)			(14,289	)
Pension			179				123
Other			130				973
Less valuation allowance			(2,792	)			(2,561	)
Net deferred tax asset/(liability) — total		$	(25,620	)		$	(12,161	)

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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration