Casey's General Stores (CASY) 10-Q 5 Sep 17 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jul. 31, 2017	Aug. 31, 2017
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)		37,897,078
Document Type	10-Q
Document Period End Date	Jul. 31, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 31, 2017	Apr. 30, 2017
Current assets:
Cash and cash equivalents	$ 159,101	$ 76,717
Receivables	44,544	43,244
Inventories	225,973	201,644
Prepaid expenses	8,251	9,179
Income tax receivable	1,430	19,901
Total current assets	439,299	350,685
Other assets, net of amortization	23,632	23,453
Goodwill	132,806	132,806
Property and equipment, net of accumulated depreciation of $1,537,648 at July 31, 2017 and $1,496,472 at April 30, 2016	2,561,744	2,513,158
Total assets	3,157,481	3,020,102
Current liabilities:
Notes payable to bank	0	900
Current maturities of long-term debt	15,429	15,421
Accounts payable	281,645	293,903
Accrued expenses	144,789	136,322
Total current liabilities	441,863	446,546
Long-term debt, net of current maturities	1,057,238	907,356
Deferred income taxes	455,688	440,124
Deferred compensation	15,959	15,784
Other long-term liabilities	20,221	19,672
Total liabilities	1,990,969	1,829,482
Shareholders’ equity:
Preferred stock, no par value	0	0
Common stock, no par value	0	40,074
Retained earnings	1,166,512	1,150,546
Total shareholders’ equity	1,166,512	1,190,620
Total liabilities and shareholders' equity	$ 3,157,481	$ 3,020,102

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) Balance Sheet Parenthetical - USD ($) $ in Thousands	Jul. 31, 2017	Apr. 30, 2017
Statement of Financial Position [Abstract]
Accumulated Depreciation	$ 1,537,648	$ 1,496,472

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Income Statement [Abstract]
Total revenue	$ 2,093,739	$ 1,970,079
Cost of goods sold (exclusive of depreciation and amortization, shown separately below)	1,617,042	1,520,284
Operating expenses	321,247	292,128
Depreciation and amortization	52,369	45,855
Interest, net	11,375	10,540
Income before income taxes	91,706	101,272
Federal and state income taxes	34,948	33,880
Net income	$ 56,758	$ 67,392
Net income per common share
Basic (in dollars per share)	$ 1.48	$ 1.72
Diluted (in dollars per share)	$ 1.46	$ 1.70
Basic weighted average shares outstanding (in shares)	38,360,104	39,156,462
Plus effect of stock compensation (in shares)	480,184	474,677
Diluted weighted average shares outstanding (in shares)	38,840,288	39,631,139
Dividends declared per share (in dollars per share)	$ 0.26	$ 0.24

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity Consolidated Statements of Shareholders' Equity - 3 months ended Jul. 31, 2017 - USD ($) $ in Thousands	Total	Common stock	Retained earnings
Beginning Balance (shares) at Apr. 30, 2017		38,765,821,000
Beginning Balance at Apr. 30, 2017	$ 1,190,620	$ 40,074	$ 1,150,546
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	56,758		56,758
Dividends declared	(9,924)		(9,924)
Exercise of stock options (shares)		7,050,000
Exercise of stock options	$ 195	$ 195
Repurchase of common stock (shares)	(718,369,000)
Repurchase of common stock	$ (77,879)	$ (47,011)	(30,868)
Stock based compensation (shares)		56,393,000
Stock based compensation	6,742	$ 6,742
Ending Balance (shares) at Jul. 31, 2017		38,110,895,000
Ending Balance at Jul. 31, 2017	$ 1,166,512	$ 0	$ 1,166,512

Consolidated Statements of Sha6

Consolidated Statements of Shareholders' Equity Parenthetical	3 Months Ended
	Jul. 31, 2017$ / shares
Retained earnings
Payment of dividends per share (in Dollars per share)	$ 0.26

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Cash flows from operating activities:
Net income	$ 56,758	$ 67,392
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	52,369	45,855
Stock-based compensation	9,807	2,471
Loss (gain) on disposal of assets and impairment charges	140	(302)
Deferred income taxes	15,564	11,840
Changes in assets and liabilities:
Receivables	(1,300)	(4,392)
Inventories	(24,244)	(631)
Prepaid expenses	928	(2,524)
Accounts payable	(20,010)	16,976
Accrued expenses	8,284	12,896
Income taxes	18,899	12,215
Other, net	(56)	(447)
Net cash provided by operating activities	117,139	161,349
Cash flows from investing activities:
Purchase of property and equipment	(91,548)	(82,296)
Payments for acquisition of businesses, net of cash acquired	(3,322)	(2,854)
Proceeds from sales of property and equipment	1,607	932
Net cash used in investing activities	(93,263)	(84,218)
Cash flows from financing activities:
Proceeds from long-term debt	150,000	50,000
Repayments of long-term debt	(103)	(98)
Net repayments of short-term debt	(900)	0
Proceeds from exercise of stock options	195	1,598
Payments of cash dividends	(9,312)	(8,577)
Repurchase of common stock	(77,878)	0
Tax withholdings on employee share-based awards	(3,494)	(6,339)
Net cash provided by financing activities	58,508	36,584
Net increase in cash and cash equivalents	82,384	113,715
Cash and cash equivalents at beginning of the period	76,717	75,775
Cash and cash equivalents at end of the period	159,101	189,490
Cash paid during the period for:
Interest, net of amount capitalized	4,673	3,785
Income taxes, net	463	9,793
Noncash investing and financing activities:
Purchased property and equipment in accounts payable	$ 7,752	$ 11,664

Presentation of Financial State

Presentation of Financial Statements	3 Months Ended
	Jul. 31, 2017
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	3 Months Ended
	Jul. 31, 2017
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. In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments (including normal recurring accruals) necessary to present fairly the financial position as of July 31, 2017 and April 30, 2017 , and the results of operations for the three months ended July 31, 2017 and 2016 , and cash flows for the three months ended July 31, 2017 and 2016 . 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. See the Form 10-K for the year ended April 30, 2017 for our consideration of new accounting pronouncements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jul. 31, 2017
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	3 Months Ended
	Jul. 31, 2017
Long-Term Debt and Fair Value Disclosure [Abstract]
Long-term Debt and 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 $1,086,000 and $941,000 at July 31, 2017 and April 30, 2017 , respectively. The Company has an aggregate $100,000 line of credit with $0 outstanding at July 31, 2017 and $900 outstanding at April 30, 2017 .

Disclosure of Compensation Rela

Disclosure of Compensation Related Costs, Share Based Payments	3 Months Ended
	Jul. 31, 2017
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 3,000,412 shares available for grant at July 31, 2017 . 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 July 31, 2017 : Date of Grant Type of Grant Shares Granted Recipients Vesting Date Fair Value at Grant Date 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 September 18, 2015 Restricted Stock 7,748 Non-employee board members Immediate $856 April 12, 2016 Restricted Stock 10,000 CEO 2,000 Shares each May 1st from 2017-2021 $1,060 June 3, 2016 Restricted Stock Units 111,150 Officers & Key employees June 3, 2019 $13,849 June 3, 2016 Restricted Stock 40,996 Officers & Key employees Immediate (Annual performance goal) $5,108 September 16, 2016 Restricted Stock 8,941 Non-employee board members Immediate $1,064 June 1, 2017 Restricted Stock Units 63,699 Key Employees June 15, 2020 $7,388 July 14, 2017 Restricted Stock Units *** 61,126 Officers June 15, 2020 $6,912 *** This grant of restricted stock units includes time-based and performance-based awards. The performance-based units included in the figure above represent a “target” amount; the final amount earned is based on the satisfaction of certain performance measures over a three -year performance period and will range from 0% to 200% of the “target". At July 31, 2017 , options for 215,000 shares (which expire between 2017 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, 2017 222,050 $ 38.51 Granted — — Exercised 7,050 27.64 Forfeited — — Outstanding at July 31, 2017 215,000 $ 38.86 At July 31, 2017 , all 215,000 outstanding options were vested, and had an aggregate intrinsic value of $14,595 and a weighted average remaining contractual life of 3.32 years . The aggregate intrinsic value for the total of all options exercised during the three months ended July 31, 2017 , was $574 . Information concerning the unvested restricted stock units under the Plan is presented in the following table: Unvested at April 30, 2017 303,400 Granted 124,825 Vested (87,000 ) Forfeited (744 ) Unvested at July 31, 2017 340,481 Total compensation costs recorded for the three months ended July 31, 2017 and 2016 , respectively, were $9,807 and $2,471 for the stock option, restricted stock, and restricted stock unit awards to employees. As of July 31, 2017 , there were no unrecognized compensation costs related to the Plan for stock options and $17,105 of unrecognized compensation costs related to restricted stock units which are expected to be recognized ratably through fiscal 2020.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jul. 31, 2017
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 District Court approved the same. A hearing was held on November 19, 2015 with regard to the attorneys’ fee award for plaintiffs’ counsel, and an order awarding fees was filed by the Court on February 17, 2016. On November 17, 2016, an oral argument was held before the 10th Circuit Court of Appeals generally regarding appeals based on the fairness of various proposed settlement provisions. A ruling from the 10th Circuit was entered on August 23, 2017 which affirmed the settlement. The District Court 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. However, the settlement will not be considered final until the time for all appeals has expired. 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	3 Months Ended
	Jul. 31, 2017
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits	Unrecognized Tax Benefits The total amount of gross unrecognized tax benefits was $5,362 at April 30, 2017 . At July 31, 2017 , gross unrecognized tax benefits were $5,965 . If this unrecognized tax benefit were ultimately recognized, $ 3,914 is the amount that would impact our effective tax rate. The total amount of accrued interest and penalties for such unrecognized tax benefits was $ 160 at July 31, 2017 , and $ 141 at April 30, 2017 . Net interest and penalties included in income tax expense for the three months ended July 31, 2017 , was a net expense of $ 19 , with a net expense of $ 28 for the same period in 2016 . 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 Nebraska is examining tax years 2012-2014 and the state of Kansas is examining tax years 2013-2015. Additionally, the IRS is currently examining tax year 2012. The Company has no other ongoing federal or state income tax examinations. The Company currently does not have any outstanding litigation related to tax matters. At this time, management believes it is reasonably possible the aggregate amount of unrecognized tax benefits will decrease by approximately $ 1,242 within the next twelve months. This 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 limitations remains open for the tax years 2012 and forward. Tax years 2012 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	3 Months Ended
	Jul. 31, 2017
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting As of July 31, 2017 we operated 1,980 stores in 15 states. Our convenience 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 programs within our business and industry. Although we can separate revenues and cost of goods sold 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 Event

Subsequent Event	3 Months Ended
	Jul. 31, 2017
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event Events that have occurred subsequent to July 31, 2017 have been evaluated for disclosure. On August 22, 2017, the Company issued $250 million in aggregate principal amount of 3.77% Senior Notes due August 22, 2028. Further information is set forth in the Current Report on Form 8-K filed by the Company on August 25, 2017.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Jul. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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.
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.

Disclosure of Compensation Re18

Disclosure of Compensation Related Costs, Share Based Payments (Tables)	3 Months Ended
	Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Grants	The following table summarizes the most recent compensation grants as of July 31, 2017 : Date of Grant Type of Grant Shares Granted Recipients Vesting Date Fair Value at Grant Date 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 September 18, 2015 Restricted Stock 7,748 Non-employee board members Immediate $856 April 12, 2016 Restricted Stock 10,000 CEO 2,000 Shares each May 1st from 2017-2021 $1,060 June 3, 2016 Restricted Stock Units 111,150 Officers & Key employees June 3, 2019 $13,849 June 3, 2016 Restricted Stock 40,996 Officers & Key employees Immediate (Annual performance goal) $5,108 September 16, 2016 Restricted Stock 8,941 Non-employee board members Immediate $1,064 June 1, 2017 Restricted Stock Units 63,699 Key Employees June 15, 2020 $7,388 July 14, 2017 Restricted Stock Units *** 61,126 Officers June 15, 2020 $6,912 ***
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, 2017 222,050 $ 38.51 Granted — — Exercised 7,050 27.64 Forfeited — — Outstanding at July 31, 2017 215,000 $ 38.86
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, 2017 303,400 Granted 124,825 Vested (87,000 ) Forfeited (744 ) Unvested at July 31, 2017 340,481

Long-term Debt and Fair Value19

Long-term Debt and Fair Value Disclosure (Details) - USD ($)	Jul. 31, 2017	Apr. 30, 2017
Debt Instrument
Fair value of long-term debt	$ 1,086,000,000	$ 941,000,000
Line of Credit
Debt Instrument
Maximum borrowing capacity	100,000,000
Fair value of amount outstanding	$ 0	$ 900,000

Disclosure of Compensation Re20

Disclosure of Compensation Related Costs, Share Based Payments (Details) - 2009 Stock Incentive Plan - USD ($)	3 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Apr. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares available for grant (in shares)	3,000,412
Allocated share-based compensation expense	$ 9,807,000	$ 2,471,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award
Number of options outstanding (in shares)	215,000		222,050
Aggregate intrinsic value for outstanding options	$ 14,595,000
Weighted average remaining contractual life (in years)	3 years 3 months 26 days
Aggregate intrinsic value for exercised options	$ 574,000
Unrecognized compensation costs related to plan	0
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized compensation costs related to plan	$ 17,105,000

Disclosure of Compensation Re21

Disclosure of Compensation Related Costs, Share Based Payments - Schedule of Compensation Grants (Details) - 2009 Stock Incentive Plan - USD ($) $ in Thousands	Jul. 14, 2017	Jun. 01, 2017	Sep. 16, 2016	Jun. 03, 2016	Apr. 12, 2016	Sep. 18, 2015	Jun. 05, 2015	Sep. 19, 2014	Jun. 06, 2014	Sep. 13, 2013	Jul. 31, 2017
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)											124,825
Non-employee board members | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)										14,000
Fair Value at Grant Date										$ 958
Non-employee board members | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)			8,941			7,748		13,955
Fair Value at Grant Date			$ 1,064			$ 856		$ 990
Officers & Key employees | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)				111,150			104,200		91,000
Fair Value at Grant Date				$ 13,849			$ 9,135		$ 6,584
Officers & Key employees | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)				40,996			48,913		30,538
Fair Value at Grant Date				$ 5,108			$ 4,288		$ 2,209
CEO | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)					10,000
Fair Value at Grant Date					$ 1,060
Key Employees | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)		63,699
Fair Value at Grant Date		$ 7,388
Officers | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)	61,126
Fair Value at Grant Date	$ 6,912
Performance measurement period	3 years
Awards to Vest May 1, 2017 | CEO | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares expected to vest (in shares)					2,000
Awards to Vest May 1, 2018 | CEO | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares expected to vest (in shares)					2,000
Awards to Vest May 1, 2019 | CEO | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares expected to vest (in shares)					2,000
Awards to Vest May 1, 2020 | CEO | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares expected to vest (in shares)					2,000
Awards to Vest May 1, 2021 | CEO | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares expected to vest (in shares)					2,000
Minimum | Officers | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Expected Award payment as percent of target	0.00%
Maximum | Officers | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Expected Award payment as percent of target	200.00%

Disclosure of Compensation Re22

Disclosure of Compensation Related Costs, Share Based Payments - Schedule of Stock Option Activity (Details) - 2009 Stock Incentive Plan - Employee Stock Option	3 Months Ended
	Jul. 31, 2017$ / sharesshares
Number of option shares
Outstanding at the beginning of the period (in shares) | shares	222,050
Granted (in shares) | shares	0
Exercised (in shares) | shares	7,050
Forfeited (in shares) | shares	0
Outstanding at the end of the period (in shares) | shares	215,000
Weighted average option exercise price
Outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 38.51
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	27.64
Forfeited (in dollars per share) | $ / shares	0
Outstanding at the end of the period (in dollars per share) | $ / shares	$ 38.86

Disclosure of Compensation Re23

Disclosure of Compensation Related Costs, Share Based Payments - Schedule of Restricted Stock Units Activity (Details) - 2009 Stock Incentive Plan - Restricted Stock Units	3 Months Ended
	Jul. 31, 2017shares
Number of Restricted Stock Units
Unvested at the beginning of the period (in shares)	303,400
Granted (in shares)	124,825
Vested (in shares)	(87,000)
Forfeited (in shares)	(744)
Unvested at the end of the period (in shares)	340,481

Commitments and Contingencies (

Commitments and Contingencies (Details)	Jul. 31, 2017lawsuit
Hot Fuel Cases
Loss Contingencies [Line Items]
Number of lawsuits	4

Unrecognized Tax Benefits (Deta

Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Apr. 30, 2017
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 5,965		$ 5,362
Unrecognized tax benefits that would impact effective tax rate	3,914
Accrued interest and penalties related to unrecognized tax benefits	160		$ 141
Net interest and penalties included in income tax expense	19	$ 28
Expected decrease in unrecognized tax benefits	$ 1,242

Segment Reporting (Details)

Segment Reporting (Details)	3 Months Ended
	Jul. 31, 2017statesegmentstoremerchandise_category
Segment Reporting [Abstract]
Number of stores | store	1,980
Number of states in which entity operates | state	15
Number of operating segments | segment	1
Number of merchandise categories | merchandise_category	3

Subsequent Event (Details)

Subsequent Event (Details) - 3.77% Senior Notes due August 22, 2028 [Member] - Senior Notes - Subsequent Event	Aug. 22, 2017USD ($)
Subsequent Event [Line Items]
Debt instrument, face amount	$ 250,000,000
Debt instrument, interest rate, stated percentage	3.77%