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Income Taxes | 12 Months Ended
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Apr. 30, 2017
Income Tax Disclosure [Abstract] |
Income Taxes | Note 4—Income Taxes Income tax expense consisted of the following:
$ in thousands |  | 2017 |  |  | 2016 |  |  | 2015 |
Current tax expense: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 891 |  |  | $ | 974 |  |  | $ | 759 |
State and local |  |  | 120 |  |  |  | 117 |  |  |  | 151 |
Foreign |  |  | 1,467 |  |  |  | 1,122 |  |  |  | 1,348 |
Total current tax expense |  |  | 2,478 |  |  |  | 2,213 |  |  |  | 2,258 |
Deferred tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (108) |  |  |  | (431) |  |  |  | (187) |
State and local |  |  | 24 |  |  |  | 98 |  |  |  | (70) |
Foreign |  |  | (268) |  |  |  | (18) |  |  |  | (256) |
Total deferred tax benefit |  |  | (352) |  |  |  | (351) |  |  |  | (513) |
Net income tax expense |  | $ | 2,126 |  |  | $ | 1,862 |  |  | $ | 1,745 |
The reasons for the differences between the above net income tax expense and the amounts computed by applying the statutory federal income tax rate to earnings before income taxes are as follows:
$ in thousands |  | 2017 |  |  | 2016 |  |  | 2015 |
Income tax expense at statutory rate |  | $ | 2,294 |  |  | $ | 1,952 |  |  | $ | 1,831 |
State and local taxes, net of federal income tax benefit (expense) |  |  | 100 |  |  |  | 102 |  |  |  | 97 |
Tax credits (state, net of federal benefit) |  |  | (110) |  |  |  | (407) |  |  |  | (157) |
Effects of differing US and foreign tax rates |  |  | (7) |  |  |  | 173 |  |  |  | 47 |
Increase (decrease) in valuation allowance |  |  | 82 |  |  |  | (10) |  |  |  | (40) |
Other items, net |  |  | (233) |  |  |  | 52 |  |  |  | (33) |
Net income tax expense |  | $ | 2,126 |  |  | $ | 1,862 |  |  | $ | 1,745 |
Significant items comprising deferred tax assets and liabilities as of April 30 were as follows:
$ in thousands |  | 2017 |  |  | 2016 |
Deferred tax assets: |  |  |  |  |  |  |  |
Accrued employee benefit expenses |  | $ | 549 |  |  | $ | 529 |
Allowance for doubtful accounts |  |  | 67 |  |  |  | 74 |
Deferred compensation |  |  | 1,792 |  |  |  | 1,753 |
Tax credits |  |  | 208 |  |  |  | 224 |
Unrecognized actuarial loss, defined benefit plans |  |  | 3,223 |  |  |  | 3,850 |
Inventory Reserves |  |  | 360 |  |  |  | 118 |
Net operating loss carryforwards |  |  | 224 |  |  |  | — |
Other |  |  | 113 |  |  |  | 353 |
Total deferred tax assets |  |  | 6,536 |  |  |  | 6,901 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Book basis in excess of tax basis of property, plant and equipment |  |  | (1,600) |  |  |  | (1,655) |
Prepaid pension |  |  | (1,696) |  |  |  | (1,854) |
Total deferred tax liabilities |  |  | (3,296) |  |  |  | (3,509) |
Less: valuation allowance |  |  | (82) |  |  |  | — |
Net deferred tax assets |  | $ | 3,158 |  |  | $ | 3,392 |
Deferred tax assets classified in the balance sheet: |  |  |  |  |  |  |  |
Non-current |  |  | 3,158 |  |  |  | 3,392 |
Net deferred tax assets (liabilities) |  | $ | 3,158 |  |  | $ | 3,392 |
Unremitted earnings of subsidiaries outside the United States are considered to be reinvested indefinitely at April 30, 2017. It is not practicable to determine the deferred tax liability for temporary differences related to those unremitted earnings. At April 30, 2017, the Company had state tax credit carryforwards in the amount of $208,000, net of federal benefit, expiring beginning in 2018. At April 30, 2017, the Company had $1,049,000 gross net operating losses in jurisdictions outside of the United States, of which $569,000 is set to expire in years 2020 to 2022. After a review of the expiration schedule of the net operating loss carryforwards and future taxable income required to utilize such carryforwards before their expiration, a valuation allowance of $82,000 was recorded at April 30, 2017.

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- 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=65882285&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=65882285&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=65882285&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=65882285&loc=d3e32537-109319 + Details
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