Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Jan. 31, 2014 | Mar. 05, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Caseys General Stores Inc, | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--04-30 | ' |
Entity Common Stock, Shares Outstanding | ' | 38,488,037 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000726958 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Document Period End Date | 31-Jan-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Jan. 31, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $102,160 | $41,271 |
Receivables | 25,067 | 20,900 |
Inventories | 190,839 | 189,514 |
Prepaid expenses | 2,092 | 1,396 |
Deferred income taxes | 12,096 | 9,916 |
Income tax receivable | 13,403 | 9,820 |
Total current assets | 345,657 | 272,817 |
Other assets, net of amortization | 15,453 | 14,485 |
Goodwill | 120,081 | 114,791 |
Property and equipment, net of accumulated depreciation of $1,029,303 at January 31, 2014 and $952,286 at April 30, 2013 | 1,745,011 | 1,581,925 |
Total assets | 2,226,202 | 1,984,018 |
Current liabilities: | ' | ' |
Notes payable to bank | ' | 59,100 |
Current maturities of long-term debt | 8,177 | 15,810 |
Accounts payable | 201,812 | 232,913 |
Accrued expenses | 109,568 | 89,925 |
Total current liabilities | 319,557 | 397,748 |
Long-term debt, net of current maturities | 853,739 | 653,081 |
Deferred income taxes | 309,918 | 293,708 |
Deferred compensation | 16,440 | 15,787 |
Other long-term liabilities | 24,795 | 21,399 |
Total liabilities | 1,524,449 | 1,381,723 |
Shareholders’ equity: | ' | ' |
Preferred stock, no par value | 0 | ' |
Common stock, no par value | 31,647 | 23,119 |
Retained earnings | 670,106 | 579,176 |
Total shareholders’ equity | 701,753 | 602,295 |
$2,226,202 | $1,984,018 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) | Jan. 31, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Property and equipment, accumulated depreciation | $1,029,303 | $952,286 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jan. 31, 2014 | Jan. 31, 2013 | Jan. 31, 2014 | Jan. 31, 2013 |
Total revenue | $1,790,055 | $1,662,365 | $5,920,689 | $5,442,311 |
Cost of goods sold (exclusive of depreciation and amortization, shown separately below) | 1,510,182 | 1,412,679 | 4,973,005 | 4,626,338 |
Gross profit | 279,873 | 249,686 | 947,684 | 815,973 |
Operating expenses | 214,671 | 189,872 | 647,174 | 569,311 |
Depreciation and amortization | 32,687 | 28,229 | 95,604 | 81,913 |
Interest, net | 9,947 | 8,764 | 29,151 | 26,305 |
Income before income taxes | 22,568 | 22,821 | 175,755 | 138,444 |
Federal and state income taxes | 7,899 | 7,358 | 64,057 | 51,091 |
Net income | $14,669 | $15,463 | $111,698 | $87,353 |
Net income per common share | ' | ' | ' | ' |
Basic (in Dollars per share) | $0.38 | $0.40 | $2.91 | $2.28 |
Diluted (in Dollars per share) | $0.38 | $0.40 | $2.87 | $2.26 |
Basic weighted average shares outstanding (in Shares) | 38,482,970 | 38,317,140 | 38,443,816 | 38,282,196 |
Plus effect of stock compensation (in Shares) | 444,061 | 304,948 | 418,025 | 331,934 |
Diluted weighted average shares outstanding (in Shares) | 38,927,031 | 38,622,088 | 38,861,841 | 38,614,130 |
Dividends declared per share (in Dollars per share) | $0.18 | $0.17 | $0.54 | $0.50 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Jan. 31, 2014 | Jan. 31, 2013 |
Cash flows from operations: | ' | ' |
Net income | $111,698 | $87,353 |
Adjustments to reconcile net income to net cash provided by operations: | ' | ' |
Depreciation and amortization | 95,604 | 81,913 |
Other amortization | 223 | 159 |
Stock based compensation | 4,001 | 3,165 |
Loss on disposal of assets and impairment charges | 2,880 | 4,272 |
Deferred income taxes | 14,030 | 29,098 |
Excess tax benefits related to stock option exercises | -1,615 | -1,682 |
Changes in assets and liabilities: | ' | ' |
Receivables | -4,167 | 1,910 |
Inventories | 84 | -12,087 |
Prepaid expenses | -696 | -655 |
Accounts payable | -31,101 | -13,920 |
Accrued expenses | 18,933 | 11,969 |
Income taxes | 1,028 | 3,682 |
Other, net | -216 | -638 |
Net cash provided by operations | 210,686 | 194,539 |
Cash flows from investing: | ' | ' |
Purchase of property and equipment | -242,548 | -241,126 |
Payments for acquisition of stores, net of cash acquired | -26,583 | -25,198 |
Proceeds from sale of property and equipment | 2,219 | 2,421 |
Net cash used in investing activities | -266,912 | -263,903 |
Cash flows from financing: | ' | ' |
Proceeds from long-term debt | 200,000 | ' |
Payments of long-term debt | -8,144 | -5,562 |
Net (payments) borrowings of short-term debt | -59,100 | 58,600 |
Proceeds from exercise of stock options | 2,912 | 4,209 |
Payments of cash dividends | -20,168 | -18,963 |
Excess tax benefits related to stock option exercises | 1,615 | 1,682 |
Net cash provided by financing activities | 117,115 | 39,966 |
Net increase (decrease) in cash and cash equivalents | 60,889 | -29,398 |
Cash and cash equivalents at beginning of the period | 41,271 | 55,919 |
Cash and cash equivalents at end of the period | 102,160 | 26,521 |
Cash paid during the period for: | ' | ' |
Interest, net of amount capitalized | 19,969 | 17,637 |
Income taxes | 48,960 | 18,280 |
Noncash investing and financing activities | ' | ' |
Property and equipment acquired through capitalized lease obligations | $1,169 | $981 |
Note_1_Presentation_of_Financi
Note 1 - Presentation of Financial Statements | 9 Months Ended |
Jan. 31, 2014 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
1. Presentation of Financial Statements | |
The accompanying condensed consolidated financial statements include the accounts and transactions of the Company and its wholly-owned subsidiaries. All material inter-company balances and transactions have been eliminated in consolidation. |
Note_2_Basis_of_Presentation
Note 2 - Basis of Presentation | 9 Months Ended |
Jan. 31, 2014 | |
Disclosure Text Block [Abstract] | ' |
Business Description and Basis of Presentation [Text Block] | ' |
2. 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 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 all normal recurring accruals) necessary to present fairly the financial position as of January 31, 2014 and April 30, 2013, and the results of operations for the three and nine months ended January 31, 2014 and 2013, and cash flows for the nine months ended January 31, 2014 and 2013. |
Note_3_Revenue_Recognition
Note 3 - Revenue Recognition | 9 Months Ended |
Jan. 31, 2014 | |
Revenue Recognition [Abstract] | ' |
Revenue Recognition [Text Block] | ' |
3. Revenue Recognition | |
The Company recognizes retail sales of gasoline, grocery and general merchandise, prepared food and fountain and commissions on lottery, newspapers, prepaid phone cards, and video rentals 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 enters into a commitment to sell them. 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. |
Note_4_LongTerm_And_Fair_Value
Note 4 - Long-Term And Fair Value Disclosure | 9 Months Ended |
Jan. 31, 2014 | |
Fair Value Disclosures [Abstract] | ' |
Fair Value Disclosures [Text Block] | ' |
4. 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 $849,000 and $721,000, respectively, at January 31, 2014 and April 30, 2013. The Company has an aggregate $100,000 line of credit with no balance owed at January 31, 2014 and a $59,100 balance owed at April 30, 2013 with a weighted average interest rate of 0.95%. On December 17, 2013, the Company issued an additional $50,000 principal amount of Series B 3.75% Senior Notes due 2028. The Company also cancelled the $25,000 Promissory Note that was part of its line of credit on June 17, 2013, leaving an aggregate line of credit of $100,000. Further information on current year transactions is set forth in the Current Report on Form 8-K filed by the Company on June 18, 2013 and December 18, 2013, respectively. |
Note_5_Disclosure_of_Compensat
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments | 9 Months Ended | ||||||||
Jan. 31, 2014 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||
5. Disclosure of Compensation Related Costs, Stock 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 4,153,608 shares still available for grant at January 31, 2014. 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 granted under the Plan using 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 over the requisite service period using the straight-line method. Additional information regarding the Plan is provided in the Company’s 2009 Proxy Statement. | |||||||||
On June 7, 2013 and June 19, 2013 restricted stock units with respect to a total of 77,650 shares were granted to certain officers and key employees. These awards were granted at no cost to the grantee. These awards will vest on June 7, 2016 and compensation expense is currently being recognized ratably over the vesting period. | |||||||||
On September 13, 2013, restricted stock units totaling 14,000 shares were granted to the non-employee members of the Board. This award was granted at no cost to the non-employee members of the Board. This award will vest on May 1, 2014 and compensation expense is currently being recognized ratably over the vesting period. | |||||||||
At January 31, 2014, options for 731,374 shares (which expire between 2014 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 | Weighted | ||||||||
option shares | average option | ||||||||
exercise price | |||||||||
Outstanding at April 30, 2013 | 854,809 | $ | 34.64 | ||||||
Granted | --- | --- | |||||||
Exercised | (121,435 | ) | 23.98 | ||||||
Forfeited | (2,000 | ) | 44.39 | ||||||
Outstanding at January 31, 2014 | 731,374 | $ | 36.38 | ||||||
Information concerning the issuance of restricted stock units under the Plan is presented in the following table: | |||||||||
Unvested at April 30, 2013 | 71,196 | ||||||||
Granted | 91,650 | ||||||||
Vested | (14,150 | ) | |||||||
Forfeited | (150 | ) | |||||||
Unvested at January 31, 2014 | 148,546 | ||||||||
At January 31, 2014, all outstanding options had an aggregate intrinsic value of $23,615 and a weighted average remaining contractual life of 6.2 years. The vested options totaled 303,374 shares with a weighted average exercise price of $25.08 per share and a weighted average remaining contractual life of 4.6 years. The aggregate intrinsic value for the vested options as of January 31, 2014, was $13,224. The aggregate intrinsic value for the total of all options exercised during the nine months ended January 31, 2014, was $2,549. | |||||||||
Total compensation costs recorded for the nine months ended January 31, 2014 and 2013, respectively, were $4,001 and $3,165 for the stock option and restricted stock unit awards. As of January 31, 2014, there was $847 of total unrecognized compensation costs related to the Plan for stock options and $5,085 of unrecognized compensation costs related to restricted stock units which are expected to be recognized ratably through fiscal 2017. |
Note_6_Acquisitions
Note 6 - Acquisitions | 9 Months Ended | ||||||||
Jan. 31, 2014 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Business Combination Disclosure [Text Block] | ' | ||||||||
6. Acquisitions | |||||||||
During the first nine months of fiscal 2014, the Company acquired 24 stores through a variety of single store and multi-store transactions with several unrelated third parties. The stores were valued using a discounted cash flow model on a location by location basis. The acquisitions were recorded in the financial statements by allocating the purchase price to the assets acquired, including intangible assets and liabilities assumed, based on their estimated fair values at the acquisition date. The excess of the cost of the acquisition over the net amounts assigned to the fair value of the assets acquired and the liabilities assumed is recorded as goodwill. All of the goodwill associated with these transactions will be deductible for income tax purposes over 15 years. | |||||||||
Allocation of the purchase price for the transactions in aggregate is as follows (in thousands): | |||||||||
Assets acquired: | |||||||||
Inventories | $ | 1,409 | |||||||
Property and equipment | 19,994 | ||||||||
Total assets | 21,403 | ||||||||
Liabilities assumed: | |||||||||
Accrued expenses | 110 | ||||||||
Total liabilities | 110 | ||||||||
Net tangible assets acquired, net of cash | 21,293 | ||||||||
Goodwill and other intangible assets | 5,290 | ||||||||
Total consideration paid, net of cash acquired | $ | 26,583 | |||||||
The allocation of the purchase price to assets acquired and liabilities assumed is preliminary pending finalization of management’s analysis. | |||||||||
The following unaudited pro forma information presents a summary of our consolidated results of operations as if the transactions referenced above occurred at the beginning of the first fiscal year of the periods presented (amounts in thousands, except per share data): | |||||||||
Nine months ended | |||||||||
January 31, | |||||||||
2014 | 2013 | ||||||||
Total revenues | $ | 5,950,914 | 5,535,896 | ||||||
Net earnings | 112,267 | 89,006 | |||||||
Earnings per common share: | |||||||||
Basic | $ | 2.92 | 2.32 | ||||||
Diluted | $ | 2.89 | 2.31 | ||||||
Note_7_Commitments_and_Conting
Note 7 - Commitments and Contingencies | 9 Months Ended |
Jan. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
7. 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 gasoline 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”. On November 20, 2012, the Court preliminarily approved the previously-reported settlement involving the Company, which when approved in final form by the Court following notice to the Class would result in the settlement and dismissal of all claims against Casey’s in the multidistrict litigation. The preliminarily approved settlement includes, but is not limited to, a commitment on the part of the Company to “sticker” certain information on its gasoline pumps and make a monetary payment (which is not considered to be material in amount) to the plaintiff class. | |
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. |
Note_8_Unrecognized_Tax_Benefi
Note 8 - Unrecognized Tax Benefits | 9 Months Ended |
Jan. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
8. UnrecognizedTaxBenefits | |
The total amount of gross unrecognized tax benefits was $8,938 at April 30, 2013. At January 31, 2014, gross unrecognized tax benefits were $11,787. If this unrecognized tax benefit were ultimately recognized, $7,662 is the amount that would impact our effective tax rate. The total amount of accrued interest and penalties for such unrecognized tax benefits was $432 at January 31, 2014 and $286 at April 30, 2013. Net interest and penalties included in income tax expense for the nine months ended January 31, 2014 was $146, and an expense of $141 for the same period of 2013. These unrecognized tax benefits relate to certain state income tax filing positions claimed. | |
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 Company currently has no 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 $1,518 within the next 12 months. This expected decrease is due to the expiration of statute of limitations related to certain state income tax filing positions. | |
The statute of limitations for federal income tax filings remains open for the tax years 2010 and forward. The statute of limitations for state income tax filings remains open for the tax years 2009 and forward. | |
In July 2013, the Financial Accounting Standards Board issued Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, to provide guidance on the presentation of unrecognized tax benefits. The pronouncement requires unrecognized tax benefits to be offset on the balance sheet by any same-jurisdiction net operating loss or tax credit carryforward that would be used to settle the position with a tax authority. The pronouncement is effective for fiscal years beginning after December 15, 2013 and will be adopted by the Company May 1, 2014. We are currently evaluating the impact of adoption on our financial statements. We do not expect it to have a material impact on our consolidated financial statements. |
Note_9_Segment_Reporting
Note 9 - Segment Reporting | 9 Months Ended |
Jan. 31, 2014 | |
Segment Reporting [Abstract] | ' |
Segment Reporting Disclosure [Text Block] | ' |
9. Segment Reporting | |
As of January 31, 2014 we operated 1,783 stores in fourteen 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 and therefore, have only one reportable segment. Our stores sell similar products and services, use similar processes to sell those products and services, and sell their products and services to similar classes of customers. We make specific disclosures concerning the three broad merchandise categories of gasoline, grocery & other merchandise, and prepared food and fountain because it makes it easier for us to 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. |
Note_10_Subsequent_Events
Note 10 - Subsequent Events | 9 Months Ended |
Jan. 31, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
10. Subsequent Events | |
Events that have occurred subsequent to January 31, 2014 have been evaluated for disclosure through the filing date of this Quarterly Report on Form 10-Q with the SEC. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Jan. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Revenue Recognition, Policy [Policy Text Block] | ' |
The Company recognizes retail sales of gasoline, grocery and general merchandise, prepared food and fountain and commissions on lottery, newspapers, prepaid phone cards, and video rentals 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 enters into a commitment to sell them. 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. |
Note_5_Disclosure_of_Compensat1
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Tables) | 9 Months Ended | ||||||||
Jan. 31, 2014 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | ' | ||||||||
Number of | Weighted | ||||||||
option shares | average option | ||||||||
exercise price | |||||||||
Outstanding at April 30, 2013 | 854,809 | $ | 34.64 | ||||||
Granted | --- | --- | |||||||
Exercised | (121,435 | ) | 23.98 | ||||||
Forfeited | (2,000 | ) | 44.39 | ||||||
Outstanding at January 31, 2014 | 731,374 | $ | 36.38 | ||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | ||||||||
Unvested at April 30, 2013 | 71,196 | ||||||||
Granted | 91,650 | ||||||||
Vested | (14,150 | ) | |||||||
Forfeited | (150 | ) | |||||||
Unvested at January 31, 2014 | 148,546 |
Note_6_Acquisitions_Tables
Note 6 - Acquisitions (Tables) | 9 Months Ended | ||||||||
Jan. 31, 2014 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ||||||||
Assets acquired: | |||||||||
Inventories | $ | 1,409 | |||||||
Property and equipment | 19,994 | ||||||||
Total assets | 21,403 | ||||||||
Liabilities assumed: | |||||||||
Accrued expenses | 110 | ||||||||
Total liabilities | 110 | ||||||||
Net tangible assets acquired, net of cash | 21,293 | ||||||||
Goodwill and other intangible assets | 5,290 | ||||||||
Total consideration paid, net of cash acquired | $ | 26,583 | |||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||||
Nine months ended | |||||||||
January 31, | |||||||||
2014 | 2013 | ||||||||
Total revenues | $ | 5,950,914 | 5,535,896 | ||||||
Net earnings | 112,267 | 89,006 | |||||||
Earnings per common share: | |||||||||
Basic | $ | 2.92 | 2.32 | ||||||
Diluted | $ | 2.89 | 2.31 |
Note_4_LongTerm_And_Fair_Value1
Note 4 - Long-Term And Fair Value Disclosure (Details) (USD $) | 1 Months Ended | ||||
Jun. 17, 2013 | Jan. 31, 2014 | Apr. 30, 2013 | Dec. 17, 2013 | Dec. 17, 2013 | |
Subsequent Event [Member] | Subsequent Event [Member] | ||||
Series B 3.75% Notes [Member] | Senior Notes [Member] | ||||
Note 4 - Long-Term And Fair Value Disclosure (Details) [Line Items] | ' | ' | ' | ' | ' |
Long-term Debt, Fair Value | ' | $849,000,000 | $721,000,000 | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | 100,000,000 | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | 0 | 59,100,000 | ' | ' |
Debt, Weighted Average Interest Rate | ' | 0.95% | ' | ' | ' |
Senior Notes | ' | ' | ' | 50,000,000 | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | 3.75% |
Line of Credit Facility, Decrease, Forgiveness | $25,000,000 | ' | ' | ' | ' |
Note_5_Disclosure_of_Compensat2
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) (USD $) | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jan. 31, 2014 | Jan. 31, 2013 | Sep. 13, 2012 |
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Description | '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. | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in Shares) | 303,374 | ' | 14,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $23,615 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '6 years 73 days | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in Dollars per share) | $25.08 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | '4 years 219 days | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 13,224 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 2,549 | ' | ' |
Share-based Compensation | 4,001 | 3,165 | ' |
Restricted Stock Units (RSUs) [Member] | Certain Officers And Key Employees [Member] | ' | ' | ' |
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures (in Shares) | 77,650 | ' | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) [Line Items] | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | ' | 5,085 | ' |
Stock Options [Member] | ' | ' | ' |
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) [Line Items] | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $847 | ' | ' |
2009 Stock Incentive Plan [Member] | ' | ' | ' |
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 4,153,608 | ' | ' |
Plan and Prior Plan [Member] | ' | ' | ' |
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 731,374 | ' | ' |
Certain Officers And Key Employees [Member] | ' | ' | ' |
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) [Line Items] | ' | ' | ' |
Shares Granted Date | 'June 7, 2013 and June 19, 2013 | ' | ' |
Vesting Period | 'May 1, 2014 | ' | ' |
Note_5_Disclosure_of_Compensat3
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) - Stock Option Activity (Employee Stock Option [Member], USD $) | 9 Months Ended |
Jan. 31, 2014 | |
Employee Stock Option [Member] | ' |
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) - Stock Option Activity [Line Items] | ' |
Outstanding at April 30, 2013 | 854,809 |
Outstanding at April 30, 2013 (in Dollars per share) | $34.64 |
Outstanding at January 31, 2014 | 731,374 |
Outstanding at January 31, 2014 (in Dollars per share) | $36.38 |
Granted | 0 |
Granted (in Dollars per share) | $0 |
Exercised | -121,435 |
Exercised (in Dollars per share) | $23.98 |
Forfeited | -2,000 |
Forfeited (in Dollars per share) | $44.39 |
Note_5_Disclosure_of_Compensat4
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) - Restricted Stock Units Activity (Restricted Stock Units (RSUs) [Member]) | 9 Months Ended |
Jan. 31, 2014 | |
Restricted Stock Units (RSUs) [Member] | ' |
Note 5 - Disclosure of Compensation Related Costs, Stock Based Payments (Details) - Restricted Stock Units Activity [Line Items] | ' |
Unvested at April 30, 2013 | 71,196 |
Unvested at January 31, 2014 | 148,546 |
Granted | 91,650 |
Vested | -14,150 |
Forfeited | -150 |
Note_6_Acquisitions_Details
Note 6 - Acquisitions (Details) (Stores [Member]) | 9 Months Ended |
Jan. 31, 2014 | |
Stores [Member] | ' |
Note 6 - Acquisitions (Details) [Line Items] | ' |
Number of Businesses Acquired | 24 |
Note_6_Acquisitions_Details_Al
Note 6 - Acquisitions (Details) - Allocation of The Purchase Price For Acquisitions (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Jan. 31, 2014 | Jan. 31, 2013 |
Note 6 - Acquisitions (Details) - Allocation of The Purchase Price For Acquisitions [Line Items] | ' | ' |
Inventories | $1,409 | ' |
Property and equipment | 19,994 | ' |
Total assets | 21,403 | ' |
Total liabilities | 110 | ' |
Net tangible assets acquired, net of cash | 21,293 | ' |
Goodwill and other intangible assets | 5,290 | ' |
Total consideration paid, net of cash acquired | 26,583 | 25,198 |
Accrued Liabilities [Member] | ' | ' |
Note 6 - Acquisitions (Details) - Allocation of The Purchase Price For Acquisitions [Line Items] | ' | ' |
Accrued expenses | $110 | ' |
Note_6_Acquisitions_Details_Un
Note 6 - Acquisitions (Details) - Unaudited Pro Forma Information (USD $) | 9 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Jan. 31, 2014 | Jan. 31, 2013 |
Unaudited Pro Forma Information [Abstract] | ' | ' |
Total revenues (in Dollars) | $5,950,914 | $5,535,896 |
Net earnings (in Dollars) | $112,267 | $89,006 |
Basic | $2.92 | $2.32 |
Diluted | $2.89 | $2.31 |
Note_8_Unrecognized_Tax_Benefi1
Note 8 - Unrecognized Tax Benefits (Details) (USD $) | 9 Months Ended | ||
Jan. 31, 2014 | Jan. 31, 2013 | Apr. 30, 2013 | |
Note 8 - Unrecognized Tax Benefits (Details) [Line Items] | ' | ' | ' |
Unrecognized Tax Benefits | $11,787,000 | ' | $8,938,000 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 7,662,000 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 432,000 | ' | 286 |
Income Tax Examination, Penalties and Interest Expense | 146 | 141 | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Lower Bound | $1,518 | ' | ' |
2010 and Forward (Member) | ' | ' | ' |
Note 8 - Unrecognized Tax Benefits (Details) [Line Items] | ' | ' | ' |
Statute of Limitations for Federal Tax Years Open | '2010 and forward | ' | ' |
2009 and Forward [Member] | ' | ' | ' |
Note 8 - Unrecognized Tax Benefits (Details) [Line Items] | ' | ' | ' |
Statute of Limitations for Federal Tax Years Open | '2009 and forward | ' | ' |
Note_9_Segment_Reporting_Detai
Note 9 - Segment Reporting (Details) | 9 Months Ended |
Jan. 31, 2014 | |
Segment Reporting [Abstract] | ' |
Number of Stores | 1,783 |
Number of States in which Entity Operates | 14 |
Number of Operating Segments | 1 |