XML 36 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note H - Income Taxes
 12 Months Ended
Apr. 30, 2012
Income Tax Disclosure [Text Block]
H - Income Taxes

The provision for income taxes was as follows:

   
Years Ended April 30,
 
(In thousands)
 
2012
   
2011
   
2010
 
Provision for income taxes
                 
Current
  $ 16,476     $ 12,619     $ 14,297  
Deferred
    3,316       4,212       816  
                         
    $ 19,792     $ 16,831     $ 15,113  

The provision for income taxes is different from the amount computed by applying the statutory federal income tax rate to income before income taxes for the following reasons:

   
Years Ended April 30,
 
(In thousands)
 
2012
   
2011
   
2010
 
                   
Tax provision at statutory rate
  $ 18,473     $ 15,766     $ 14,264  
State taxes, net of federal benefit
    1,125       980       876  
Other, net
    194       85       (27 )
                         
    $ 19,792     $ 16,831     $ 15,113  

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.  Significant components of the Company’s deferred tax assets and liabilities were as follows:

   
April 30,
 
(In thousands)
 
2012
   
2011
 
             
Deferred tax liabilities related to:
           
Finance receivables
  $ 20,122     $ 17,690  
Property and equipment
    2,211       1,627  
Total
    22,333       19,317  
                 
Deferred tax assets related to:
               
Accrued liabilities
    1,330       2,362  
Inventory
    145       124  
Share based compensation
    3,691       2,974  
Payment protection plan
    446       452  
Total
    5,612       5,912  
                 
Deferred tax liabilities, net
  $ 16,721     $ 13,405