Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Oct. 31, 2015 | Dec. 02, 2015 | |
Document And Entity Information | ||
Entity Registrant Name | Caseys General Stores Inc, | |
Entity Central Index Key | 726,958 | |
Current Fiscal Year End Date | --04-30 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 39,006,613 | |
Document Type | 10-Q | |
Document Period End Date | Oct. 31, 2015 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Oct. 31, 2015 | Apr. 30, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 65,580 | $ 48,541 |
Receivables | 31,925 | 22,609 |
Inventories | 204,277 | 197,331 |
Prepaid expenses | 2,863 | 2,025 |
Deferred income taxes | 17,704 | 15,531 |
Income tax receivable | 0 | 19,223 |
Total current assets | 322,349 | 305,260 |
Other assets, net of amortization | 18,549 | 18,295 |
Goodwill | 127,046 | 127,046 |
Property and equipment, net of accumulated depreciation of $1,255,658 at October 31, 2015 and $1,185,246 at April 30, 2015 | 2,162,869 | 2,019,364 |
Total assets | 2,630,813 | 2,469,965 |
Current liabilities: | ||
Notes payable to bank | 0 | 0 |
Current maturities of long-term debt | 15,393 | 15,398 |
Accounts payable | 246,055 | 226,577 |
Accrued expenses | 125,207 | 122,914 |
Income taxes payable | 12,721 | 0 |
Total current liabilities | 399,376 | 364,889 |
Long-term debt, net of current maturities | 830,553 | 838,245 |
Deferred income taxes | 353,955 | 354,973 |
Deferred compensation | 17,639 | 17,645 |
Other long-term liabilities | 19,882 | 18,984 |
Total liabilities | 1,621,405 | 1,594,736 |
Shareholders’ equity: | ||
Preferred stock, no par value | 0 | 0 |
Common stock, no par value | 66,773 | 56,274 |
Retained earnings | 942,635 | 818,955 |
Total shareholders’ equity | 1,009,408 | 875,229 |
Total Liabilities and Shareholders' Equity | $ 2,630,813 | $ 2,469,965 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands | Oct. 31, 2015 | Apr. 30, 2015 |
Statement of Financial Position [Abstract] | ||
Property and equipment, accumulated depreciation | $ 1,255,658 | $ 1,185,246 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2015 | Oct. 31, 2014 | |
Income Statement [Abstract] | ||||
Total revenue | $ 1,924,600 | $ 2,150,211 | $ 3,973,192 | $ 4,441,397 |
Cost of goods sold (exclusive of depreciation and amortization, shown separately below) | 1,481,610 | 1,778,929 | 3,118,960 | 3,699,201 |
Gross profit | 442,990 | 371,282 | 854,232 | 742,196 |
Operating expenses | 267,978 | 244,781 | 531,560 | 489,099 |
Depreciation and amortization | 41,807 | 37,275 | 81,206 | 73,524 |
Interest, net | 10,009 | 10,360 | 20,093 | 20,866 |
Income before income taxes | 123,196 | 78,866 | 221,373 | 158,707 |
Federal and state income taxes | 44,163 | 28,997 | 80,534 | 58,741 |
Net income | $ 79,033 | $ 49,869 | $ 140,839 | $ 99,966 |
Net income per common share | ||||
Basic (in dollars per share) | $ 2.03 | $ 1.29 | $ 3.61 | $ 2.59 |
Diluted (in dollars per share) | $ 2 | $ 1.28 | $ 3.57 | $ 2.56 |
Basic weighted average shares outstanding (in shares) | 39,002,546 | 38,706,611 | 38,987,530 | 38,668,453 |
Plus effect of stock compensation (in shares) | 423,747 | 352,056 | 419,687 | 348,522 |
Diluted weighted average shares outstanding (in shares) | 39,426,293 | 39,058,667 | 39,407,217 | 39,016,975 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Cash flows from operating activities: | ||
Net income | $ 140,839 | $ 99,966 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 81,206 | 73,524 |
Other amortization | 210 | 198 |
Stock based compensation | 3,373 | 2,667 |
(Gain) loss on disposal of assets and impairment charges | (191) | 132 |
Deferred income taxes | (3,191) | 4,451 |
Excess tax benefits related to stock option exercises | (1,417) | (1,146) |
Changes in assets and liabilities: | ||
Receivables | (9,316) | (5,193) |
Inventories | (6,946) | 7,594 |
Prepaid expenses | (838) | (1,196) |
Accounts payable | 2,401 | (25,357) |
Accrued expenses | 5,075 | 3,872 |
Income taxes | 33,930 | 23,974 |
Other, net | (176) | (94) |
Net cash provided by operating activities | 244,959 | 183,392 |
Cash flows from investing activities: | ||
Purchase of property and equipment | (209,948) | (195,682) |
Payments for acquisition of businesses, net of cash acquired | 0 | (34,288) |
Proceeds from sales of property and equipment | 2,541 | 1,783 |
Net cash used in investing activities | (207,407) | (228,187) |
Cash flows from financing activities: | ||
Repayments of long-term debt | (7,697) | (361) |
Proceeds from exercise of stock options | 2,089 | 8,571 |
Payments of cash dividends | (16,322) | (14,652) |
Excess tax benefits related to stock option exercises | 1,417 | 1,146 |
Net cash used in financing activities | (20,513) | (5,296) |
Net increase (decrease) in cash and cash equivalents | 17,039 | (50,091) |
Cash and cash equivalents at beginning of the period | 48,541 | 121,641 |
Cash and cash equivalents at end of the period | 65,580 | |
Cash paid during the period for: | ||
Interest, net of amount capitalized | 20,206 | 20,954 |
Income taxes, net | 49,731 | 30,251 |
Noncash investing and financing activities: | ||
Purchased property and equipment in accounts payable | $ 17,077 | $ 0 |
Presentation of Financial State
Presentation of Financial Statements | 6 Months Ended |
Oct. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Presentation of Financial Statements | Presentation of Financial Statements The accompanying condensed consolidated financial statements include the accounts and transactions of Casey's General Stores, Inc. (hereinafter referred to as The Company or Casey's) and its wholly-owned subsidiaries. All material inter-company balances and transactions have been eliminated in consolidation. |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Oct. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to such rules and regulations. Although management believes that the disclosures are adequate to make the information presented not misleading, it is suggested that these interim condensed consolidated financial statements be read in conjunction with the Company’s most recent audited financial statements and notes thereto. In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position as of October 31, 2015 and April 30, 2015 , and the results of operations for the three and six months ended October 31, 2015 and 2014 , and cash flows for the six months ended October 31, 2015 and 2014 . See the Form 10-K for the year ended April 30, 2015 for our consideration of new accounting pronouncements. In addition, on November 20, 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-17, "Balance Sheet Classification of Deferred Taxes". The ASU simplifies the current guidance, which requires entities to separately present deferred tax assets and liabilities as current and noncurrent in a classified balance sheet. Upon adoption, the Company will net its current deferred tax asset with its noncurrent deferred tax liability as noncurrent on the balance sheet. The ASU will be effective for annual periods beginning after December 15, 2016, and interim periods within those years (with early adoption allowed). The Company plans to adopt the standard in the fourth quarter of its fiscal year ended April 30, 2016. |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Oct. 31, 2015 | |
Revenue Recognition [Abstract] | |
Revenue Recognition | Revenue Recognition The Company recognizes retail sales of fuel, grocery and other merchandise, prepared food and fountain and other revenue at the time of the sale to the customer. Renewable Identification Numbers (RINs) are treated as a reduction in cost of goods sold in the period the Company commits to a price and agrees to sell the RIN. Vendor rebates in the form of rack display allowances are treated as a reduction in cost of goods sold and are recognized pro rata over the period covered by the applicable rebate agreement. Vendor rebates in the form of billbacks are treated as a reduction in cost of goods sold and are recognized at the time the product is sold. |
Long-term Debt and Fair Value D
Long-term Debt and Fair Value Disclosure | 6 Months Ended |
Oct. 31, 2015 | |
Long-Term Debt and Fair Value Disclosure [Abstract] | |
Fair Value Disclosure | Long-Term Debt and Fair Value Disclosure The fair value of the Company’s long-term debt is estimated based on the current rates offered to the Company for debt of the same or similar issues. The fair value of the Company’s long-term debt was approximately $877,000 and $887,000 at October 31, 2015 and April 30, 2015 , respectively. |
Long-Term Debt Disclosure | The Company has an aggregate $100,000 line of credit with $0 outstanding at October 31, 2015 and April 30, 2015 . |
Disclosure of Compensation Rela
Disclosure of Compensation Related Costs, Share Based Payments | 6 Months Ended |
Oct. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments | Disclosure of Compensation Related Costs, Share Based Payments The 2009 Stock Incentive Plan (the “ Plan ”), was approved by the Board in June 2009 and approved by the shareholders in September 2009. The Plan replaced the 2000 Option Plan and the Non-employee Director Stock Plan (together, the “ Prior Plans ”). There are 3,573,186 shares still available for grant at October 31, 2015 . Awards made under the Plan may take the form of stock options, restricted stock or restricted stock units. Each share issued pursuant to a stock option will reduce the shares available for grant by one, and each share issued pursuant to an award of restricted stock or restricted stock units will reduce the shares available for grant by two. We account for stock-based compensation by estimating the fair value of stock options using the Black Scholes model, and value restricted stock unit awards granted under the Plan using the market price of a share of our common stock on the date of grant. We recognize this fair value as an operating expense in our consolidated statements of income ratably over the requisite service period using the straight-line method, as adjusted for certain retirement provisions. All awards have been granted at no cost to the grantee and/or non-employee member of the Board. Additional information regarding the Plan is provided in the Company’s 2009 Proxy Statement. The following table summarizes the most recent compensation grants as of October 31, 2015 : Date of Grant Type of Grant Shares Granted Recipients Vesting Date Fair Value at Grant Date June 7 & 19, 2013 Restricted Stock Units 77,650 Officers & Key employees June 7, 2016 $4,816 September 13, 2013 Restricted Stock Units 14,000 Non-employee board members May 1, 2014 $958 June 6, 2014 Restricted Stock Units 91,000 Officers & Key employees June 6, 2017 $6,584 June 6, 2014 Restricted Stock 30,538 Officers & Key employees Immediate (Annual performance goal) $2,209 September 19, 2014 Restricted Stock 13,955 Non-employee board members Immediate $990 June 5, 2015 Restricted Stock Units 104,200 Officers & Key employees June 5, 2018 $9,135 June 5, 2015 Restricted Stock 48,913 Officers & Key employees Immediate (Annual performance goal) $4,288 At October 31, 2015 , options for 342,050 shares (which expire between 2016 and 2021) were outstanding for the Plan and Prior Plans. Information concerning the issuance of stock options under the Plan and Prior Plans is presented in the following table: Number of option shares Weighted average option exercise price Outstanding at April 30, 2015 401,800 $ 36.55 Granted — — Exercised 59,750 34.96 Forfeited — — Outstanding at October 31, 2015 342,050 $ 36.83 At October 31, 2015 , all 342,050 outstanding options were vested, and had an aggregate intrinsic value of $23,735 and a weighted average remaining contractual life of 4.69 years . The aggregate intrinsic value for the total of all options exercised during the six months ended October 31, 2015 , was $3,770 . Information concerning the unvested restricted stock units under the Plan is presented in the following table: Unvested at April 30, 2015 193,930 Granted 104,200 Vested (31,480 ) Forfeited — Unvested at October 31, 2015 266,650 Total compensation costs recorded for the six months ended October 31, 2015 and 2014 , respectively, were $3,373 and $2,667 for the stock option, restricted stock, and restricted stock unit awards. As of October 31, 2015 , there were no unrecognized compensation costs related to the Plan for stock options and $11,475 of unrecognized compensation costs related to restricted stock units which are expected to be recognized ratably through fiscal 2018. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Oct. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies As previously reported, the Company was named as a defendant in four lawsuits (“hot fuel” cases) brought in the federal courts in Kansas and Missouri against a variety of fuel retailers, which were consolidated in the U.S. District Court for the District of Kansas in Kansas City, Kansas as part of the multidistrict “Motor Fuel Temperature Sales Practices Litigation.” A hearing to consider whether the previously-reported settlement involving the Company was fair, reasonable and adequate was conducted on June 9, 2015, and on August 21, 2015, the Court approved the same. The approved settlement includes, but is not limited to, the commitment on the part of the Company to "sticker" certain information on its gasoline pumps and to make a monetary payment (which is not considered to be material in amount) to the plaintiff class. A hearing was held on November 19, 2015, with regard to the attorneys’ fee award for plaintiffs’ counsel. The settlement will not be considered final until after a Court order is issued awarding those fees, (which is expected to occur in or about January 2016) and all time for appeals have expired. The Company is named as a defendant in a purported class action lawsuit filed in the U.S. District Court for the Western District of Missouri on behalf of all individuals on whom the Company obtained a consumer report for employment purposes during the last 2 years . Plaintiffs allege that the Company has violated the Fair Credit Reporting Act ("FCRA") disclosure requirement. The FCRA provides for statutory damages of $ 100 to $1,000 for each willful violation, as well as punitive damages and attorneys' fees. The Court denied the Company's Motion to Dismiss and Motion to Dismiss/Substitute a Proper Party. Casey’s tentatively resolved the matter at a Court ordered mediation on September 8, 2015, for an amount which is not considered material. The parties filed the Motion for Preliminary Settlement approval in October 2015. The Court granted preliminary approval during a hearing on December 1, 2015, and an order is expected in the near future. Casey’s will provide the class member information to the settlement administrator, who will then issue the notice with a 60 days opt out period. The Court is anticipated to issue an order setting a final fairness hearing in approximately 90 days . From time to time we may be involved in other legal and administrative proceedings or investigations arising from the conduct of our business operations, including contractual disputes; employment or personnel matters; personal injury and property damage claims; and claims by federal, state, and local regulatory authorities relating to the sale of products pursuant to licenses and permits issued by those authorities. Claims for compensatory or exemplary damages in those actions may be substantial. While the outcome of such litigation, proceedings, investigations, or claims is never certain, it is our opinion, after taking into consideration legal counsel’s assessment and the availability of insurance proceeds and other collateral sources to cover potential losses, that the ultimate disposition of such matters currently pending or threatened, individually or cumulatively, will not have a material adverse effect on our consolidated financial position and results of operation. |
Unrecognized Tax Benefits
Unrecognized Tax Benefits | 6 Months Ended |
Oct. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Unrecognized Tax Benefits | Unrecognized Tax Benefits The total amount of gross unrecognized tax benefits was $8,043 at April 30, 2015 . At October 31, 2015 , gross unrecognized tax benefits were $8,866 . If this unrecognized tax benefit were ultimately recognized, $ 5,799 is the amount that would impact our effective tax rate. The total amount of accrued interest and penalties for such unrecognized tax benefits was $ 306 at October 31, 2015 , and $ 152 at April 30, 2015 . Net interest and penalties included in income tax expense for the six months ended October 31, 2015 , was an expense of $ 154 and a net benefit of $ 185 for the same period of the prior year. A number of years may elapse before an uncertain tax position is audited and ultimately settled. It is difficult to predict the ultimate outcome or the timing of resolution for uncertain tax positions. It is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months. These changes could result from the expiration of the statute of limitations, examinations or other unforeseen circumstances. The State of Illinois is examining tax years 2011 and 2012 . Additionally, the IRS is currently examining tax year 2012. The Company has no other ongoing federal or state income tax examinations. The Company does not have any outstanding litigation related to tax matters. At this time, management expects the aggregate amount of unrecognized tax benefits to decrease by approximately $ 2,926 within the next twelve months. The expected decrease is due to the expiration of the statute of limitations related to certain federal and state income tax filing positions. The federal statute of limitation remains open for the tax years 2011 and forward. Tax years 2010 and forward are subject to audit by state tax authorities depending on open statute of limitations waivers and the tax code of each state. |
Segment Reporting
Segment Reporting | 6 Months Ended |
Oct. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure | Segment Reporting As of October 31, 2015 we operated 1,904 stores in 14 states. Our stores offer a broad selection of merchandise, fuel and other products and services designed to appeal to the convenience needs of our customers. We manage the business on the basis of one operating segment. Our stores sell similar products and services, and use similar processes to sell those products and services directly to the general public. We make specific disclosures concerning the three broad merchandise categories of fuel, grocery and other merchandise, and prepared food and fountain because it allows us to more effectively discuss trends and operational initiatives within our business and industry. Although we can separate gross margins within these categories (and further sub-categories), the operating expenses associated with operating a store that sells these products are not separable by these three categories. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Oct. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Events that have occurred subsequent to October 31, 2015 have been evaluated for disclosure through the filing date of this Quarterly Report on Form 10-Q with the SEC. |
Presentation of Financial Sta15
Presentation of Financial Statements (Policies) | 6 Months Ended |
Oct. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to such rules and regulations. Although management believes that the disclosures are adequate to make the information presented not misleading, it is suggested that these interim condensed consolidated financial statements be read in conjunction with the Company’s most recent audited financial statements and notes thereto. |
Revenue Recognition | Revenue Recognition The Company recognizes retail sales of fuel, grocery and other merchandise, prepared food and fountain and other revenue at the time of the sale to the customer. Renewable Identification Numbers (RINs) are treated as a reduction in cost of goods sold in the period the Company commits to a price and agrees to sell the RIN. Vendor rebates in the form of rack display allowances are treated as a reduction in cost of goods sold and are recognized pro rata over the period covered by the applicable rebate agreement. Vendor rebates in the form of billbacks are treated as a reduction in cost of goods sold and are recognized at the time the product is sold. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Oct. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
New Accounting Pronouncements | In addition, on November 20, 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-17, "Balance Sheet Classification of Deferred Taxes". The ASU simplifies the current guidance, which requires entities to separately present deferred tax assets and liabilities as current and noncurrent in a classified balance sheet. Upon adoption, the Company will net its current deferred tax asset with its noncurrent deferred tax liability as noncurrent on the balance sheet. The ASU will be effective for annual periods beginning after December 15, 2016, and interim periods within those years (with early adoption allowed). The Company plans to adopt the standard in the fourth quarter of its fiscal year ended April 30, 2016. |
Disclosure of Compensation Re17
Disclosure of Compensation Related Costs, Share Based Payments (Tables) | 6 Months Ended |
Oct. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Compensation Grants | The following table summarizes the most recent compensation grants as of October 31, 2015 : Date of Grant Type of Grant Shares Granted Recipients Vesting Date Fair Value at Grant Date June 7 & 19, 2013 Restricted Stock Units 77,650 Officers & Key employees June 7, 2016 $4,816 September 13, 2013 Restricted Stock Units 14,000 Non-employee board members May 1, 2014 $958 June 6, 2014 Restricted Stock Units 91,000 Officers & Key employees June 6, 2017 $6,584 June 6, 2014 Restricted Stock 30,538 Officers & Key employees Immediate (Annual performance goal) $2,209 September 19, 2014 Restricted Stock 13,955 Non-employee board members Immediate $990 June 5, 2015 Restricted Stock Units 104,200 Officers & Key employees June 5, 2018 $9,135 June 5, 2015 Restricted Stock 48,913 Officers & Key employees Immediate (Annual performance goal) $4,288 |
Schedule of Stock Options Activity | Information concerning the issuance of stock options under the Plan and Prior Plans is presented in the following table: Number of option shares Weighted average option exercise price Outstanding at April 30, 2015 401,800 $ 36.55 Granted — — Exercised 59,750 34.96 Forfeited — — Outstanding at October 31, 2015 342,050 $ 36.83 |
Schedule of Restricted Stock Units Award Activity | Information concerning the unvested restricted stock units under the Plan is presented in the following table: Unvested at April 30, 2015 193,930 Granted 104,200 Vested (31,480 ) Forfeited — Unvested at October 31, 2015 266,650 |
Long-term Debt and Fair Value18
Long-term Debt and Fair Value Disclosure (Details) - USD ($) | Oct. 31, 2015 | Apr. 30, 2015 |
Debt Instrument | ||
Fair value of long-term debt | $ 877,000,000 | $ 887,000,000 |
Line of Credit | ||
Debt Instrument | ||
Maximum borrowing capacity | 100,000,000 | 100,000,000 |
Fair value of amount outstanding | $ 0 | $ 0 |
Disclosure of Compensation Re19
Disclosure of Compensation Related Costs, Share Based Payments (Details) - 2009 Stock Incentive Plan - USD ($) $ in Thousands | 6 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Apr. 30, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award | |||
Number of shares available for grant | 3,573,186 | ||
Allocated share-based compensation expense | $ 3,373 | $ 2,667 | |
Employee Stock Option | |||
Share-based Compensation Arrangement by Share-based Payment Award | |||
Number of options outstanding | 342,050 | 401,800 | |
Aggregate intrinsic value for outstanding options | $ 23,735 | ||
Weighted average remaining contractual life (in years) | 4 years 8 months 10 days | ||
Aggregate intrinsic value for exercised options | $ 3,770 | ||
Unrecognized compensation costs related to Plan | 0 | ||
Restricted Stock Units (RSUs) | |||
Share-based Compensation Arrangement by Share-based Payment Award | |||
Unrecognized compensation costs related to Plan | $ 11,475 |
Disclosure of Compensation Re20
Disclosure of Compensation Related Costs, Share Based Payments - Schedule of Compensation Grants (Details) - 2009 Stock Incentive Plan - USD ($) $ in Thousands | Jun. 05, 2015 | Sep. 19, 2014 | Jun. 06, 2014 | Sep. 13, 2013 | Jun. 19, 2013 | Jun. 07, 2013 | Oct. 31, 2015 |
Restricted Stock Units (RSUs) | |||||||
Share-based Compensation Arrangement by Share-based Payment Award | |||||||
Grants in period (in shares) | 104,200 | ||||||
Officers & Key Employees | Restricted Stock Units (RSUs) | |||||||
Share-based Compensation Arrangement by Share-based Payment Award | |||||||
Grants in period (in shares) | 104,200 | 91,000 | 77,650 | 77,650 | |||
Fair value of awards during period | $ 9,135 | $ 6,584 | $ 4,816 | $ 4,816 | |||
Officers & Key Employees | Restricted Stock | |||||||
Share-based Compensation Arrangement by Share-based Payment Award | |||||||
Grants in period (in shares) | 48,913 | 30,538 | |||||
Fair value of awards during period | $ 4,288 | $ 2,209 | |||||
Non-Employee Board Members | Restricted Stock Units (RSUs) | |||||||
Share-based Compensation Arrangement by Share-based Payment Award | |||||||
Grants in period (in shares) | 14,000 | ||||||
Fair value of awards during period | $ 958 | ||||||
Non-Employee Board Members | Restricted Stock | |||||||
Share-based Compensation Arrangement by Share-based Payment Award | |||||||
Grants in period (in shares) | 13,955 | ||||||
Fair value of awards during period | $ 990 |
Disclosure of Compensation Re21
Disclosure of Compensation Related Costs, Share Based Payments - Schedule of Stock Option Activity (Details) - 2009 Stock Incentive Plan - Employee Stock Option | 6 Months Ended |
Oct. 31, 2015$ / sharesshares | |
Number of Option Shares | |
Outstanding at the beginning of the period (in shares) | shares | 401,800 |
Granted (in shares) | shares | 0 |
Exercised (in shares) | shares | 59,750 |
Forfeited (in shares) | shares | 0 |
Outstanding at the end of the period (in shares) | shares | 342,050 |
Weighted Average Option Price | |
Outstanding at the beginning of the period (in dollars per share) | $ 36.55 |
Granted (in dollars per share) | 0 |
Exercised (in dollars per share) | 34.96 |
Forfeited (in dollars per share) | 0 |
Outstanding at the end of the period (in dollars per share) | $ 36.83 |
Disclosure of Compensation Re22
Disclosure of Compensation Related Costs, Share Based Payments - Schedule of Restricted Stock Units Activity (Details) - 2009 Stock Incentive Plan - Restricted Stock Units (RSUs) | 6 Months Ended |
Oct. 31, 2015shares | |
Number of Restricted Stock Units | |
Unvested at the beginning of the period (in shares) | 193,930 |
Granted (in shares) | 104,200 |
Vested (in shares) | (31,480) |
Forfeited (in shares) | 0 |
Unvested at the end of the period (in shares) | 266,650 |
Commitments and Contingencies (
Commitments and Contingencies (Details) | Dec. 01, 2015 | Nov. 20, 2012lawsuit | Oct. 31, 2015USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |||
Number of lawsuits where the Company is named as a defendant | lawsuit | 4 | ||
Period covered by lawsuit | 2 years | ||
Subsequent Event | |||
Loss Contingencies | |||
Duration of class action opt-out period | 60 days | ||
Anticipated duration for court ordered fairness hearing date | 90 days | ||
Minimum | |||
Loss Contingencies | |||
Statutory damages per violation | $ 100 | ||
Maximum | |||
Loss Contingencies | |||
Statutory damages per violation | $ 1,000 |
Unrecognized Tax Benefits (Deta
Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Oct. 31, 2014 | Oct. 31, 2015 | Apr. 30, 2015 | |
Income Tax Contingency | |||
Unrecognized tax benefits | $ 8,866 | $ 8,043 | |
Unrecognized tax benefits that would impact effective tax rate | 5,799 | ||
Accrued interest and penalties related to unrecognized tax benefits | 306 | $ 152 | |
Interest and penalties included in income tax expense | $ (185) | 154 | |
Expected decrease in unrecognized tax benefits | $ 2,926 | ||
Federal Tax Authority | Earliest Tax Year | |||
Income Tax Contingency | |||
Tax years open for examination | 2,011 | ||
State Tax Authority | Earliest Tax Year | |||
Income Tax Contingency | |||
Tax years open for examination | 2,010 | ||
Illinois | Tax Year 2011 | |||
Income Tax Contingency | |||
Year under examination | 2,011 | ||
Illinois | Tax Year 2012 | |||
Income Tax Contingency | |||
Year under examination | 2,012 |
Segment Reporting (Details)
Segment Reporting (Details) | 6 Months Ended |
Oct. 31, 2015statesegmentmerchandise_categorystore | |
Segment Reporting [Abstract] | |
Number of stores | 1,904 |
Number of states in which entity operates | state | 14 |
Number of operating segments | segment | 1 |
Segment Reporting, Number of Merchandise Categories | merchandise_category | 3 |