Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Apr. 30, 2014 | Jun. 23, 2014 | Oct. 31, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'Caseys General Stores Inc, | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--04-30 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 37,882,157 | ' |
Entity Public Float | ' | ' | $2,600,000,000 |
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 | 30-Apr-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents | $121,641 | $41,271 |
Receivables | 25,841 | 20,900 |
Inventories | 204,833 | 189,514 |
Prepaid expenses | 1,478 | 1,396 |
Deferred income taxes | 11,878 | 9,916 |
Income taxes receivable | 12,473 | 9,820 |
Total current assets | 378,144 | 272,817 |
Land | 490,005 | 431,523 |
Buildings and leasehold improvements | 1,004,263 | 904,732 |
Machinery and equipment | 1,330,697 | 1,182,470 |
Leasehold interest in property and equipment | 16,278 | 15,486 |
2,841,243 | 2,534,211 | |
Less accumulated depreciation and amortization | 1,062,278 | 952,286 |
Net property and equipment | 1,778,965 | 1,581,925 |
Other assets, net of amortization | 15,947 | 14,485 |
Goodwill | 120,406 | 114,791 |
Total assets | 2,293,462 | 1,984,018 |
Notes payable to bank | ' | 59,100 |
Current maturities of long-term debt | 553 | 15,810 |
Accounts payable | 250,807 | 232,913 |
Wages and related taxes | 27,411 | 16,221 |
Insurance | 28,429 | 24,039 |
Other | 33,171 | 29,436 |
Total current liabilities | 362,943 | 397,748 |
Long-term debt, net of current maturities | 853,642 | 653,081 |
Deferred income taxes | 317,953 | 293,708 |
Deferred compensation | 16,558 | 15,787 |
Other long-term liabilities | 22,500 | 21,399 |
Total liabilities | 1,573,596 | 1,381,723 |
Preferred stock, no par value, none issued | 0 | 0 |
Common stock, no par value, 38,507,387 and 38,352,509 shares issued and outstanding at April 30, 2014 and 2013, respectively | 33,878 | 23,119 |
Retained earnings | 685,988 | 579,176 |
Total shareholders' equity | 719,866 | 602,295 |
Total liabilities and shareholders' equity | 2,293,462 | 1,984,018 |
Property Taxes [Member] | ' | ' |
Property taxes | $22,572 | $20,229 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock,par value (in Dollars per share) | $0 | $0 |
Common stock, par value (in Dollars per share) | $0 | $0 |
Common stock,shares issued | 38,507,387 | 38,352,509 |
Common stock,shares outstanding | 38,507,387 | 38,352,509 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | ||
Total revenue | $7,840,255 | $7,250,840 | $6,987,804 | ||
Cost of goods sold (exclusive of depreciation and amortization, shown separately below) | 6,605,996 | 6,168,475 | 5,984,114 | ||
Gross profit | 1,234,259 | [1] | 1,082,365 | [1] | 1,003,690 |
Operating expenses | 857,297 | 760,365 | 688,431 | ||
Depreciation and amortization | 131,160 | 111,823 | 96,552 | ||
Interest, net | 39,270 | 35,048 | 35,192 | ||
Income before income taxes | 206,532 | 175,129 | 183,515 | ||
Federal and state income taxes | 72,018 | 64,504 | 66,724 | ||
Net income | $134,514 | $110,625 | $116,791 | ||
Net income per common share | ' | ' | ' | ||
Basic (in Dollars per share) | $3.50 | $2.89 | $3.07 | ||
Diluted (in Dollars per share) | $3.46 | $2.86 | $3.04 | ||
[1] | Gross profit is given before charge for depreciation and amortization and credit card fees. |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Common Stock [Member] | Retained Earnings [Member] | Total |
In Thousands | |||
Balance at April 30 at Apr. 30, 2011 | $3,996 | $399,900 | $403,896 |
Net income | ' | 116,791 | 116,791 |
Dividends declared | ' | -22,849 | -22,849 |
Proceeds from exercise of stock options | 3,249 | ' | 3,249 |
Tax benefits related to nonqualified stock options | 1,162 | ' | 1,162 |
Stock based compensation | 3,792 | ' | 3,792 |
Balance at April 30 at Apr. 30, 2012 | 12,199 | 493,842 | 506,041 |
Net income | ' | 110,625 | 110,625 |
Dividends declared | ' | -25,291 | -25,291 |
Proceeds from exercise of stock options | 4,721 | ' | 4,721 |
Tax benefits related to nonqualified stock options | 1,929 | ' | 1,929 |
Stock based compensation | 4,270 | ' | 4,270 |
Balance at April 30 at Apr. 30, 2013 | 23,119 | 579,176 | 602,295 |
Net income | ' | 134,514 | 134,514 |
Dividends declared | ' | -27,702 | -27,702 |
Proceeds from exercise of stock options | 3,368 | ' | 3,368 |
Tax benefits related to nonqualified stock options | 1,791 | ' | 1,791 |
Stock based compensation | 5,600 | ' | 5,600 |
Balance at April 30 at Apr. 30, 2014 | $33,878 | $685,988 | $719,866 |
Consolidated_Statements_of_Sha1
Consolidated Statements of Shareholders' Equity (Parentheticals) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Payment of dividends per share | $0.72 | $0.66 | $0.60 |
Exercise of stock options,shares | 140,785 | 198,200 | 159,600 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Cash flows from operating activities | ' | ' | ' |
Net income | $134,514 | $110,625 | $116,791 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 131,160 | 111,823 | 96,552 |
Other amortization | 297 | 195 | 347 |
Stock-based compensation | 5,600 | 4,270 | 3,792 |
Loss on disposal of assets and impairment charges | 2,846 | 4,788 | 1,428 |
Deferred income taxes | 22,283 | 36,530 | 54,589 |
Excess tax benefits related to stock option exercises | -1,791 | -1,929 | -1,162 |
Changes in assets and liabilities: | ' | ' | ' |
Receivables | -4,941 | 800 | -1,546 |
Inventories | -13,696 | -16,222 | -8,647 |
Prepaid expenses | -82 | -98 | -118 |
Accounts payable | 17,894 | 21,748 | -4,510 |
Accrued expenses | 20,930 | 4,270 | 7,399 |
Income taxes receivable | -441 | 9,969 | 29,508 |
Other, net | -413 | -441 | 456 |
Net cash provided by operating activities | 314,160 | 286,328 | 294,879 |
Cash flows from investing activities | ' | ' | ' |
Purchase of property and equipment | -308,633 | -305,301 | -240,874 |
Payments for acquisitions of businesses, net of cash acquired | -31,584 | -29,527 | -39,444 |
Proceeds from sales of property and equipment | 3,328 | 3,544 | 2,196 |
Net cash used in investing activities | -336,889 | -331,284 | -278,122 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from long-term debt | 200,000 | 0 | 0 |
Repayments of long-term debt | -15,865 | -10,757 | -1,372 |
Net (repayments) borrowings of short-term debt | -59,100 | 59,100 | -600 |
Proceeds from exercise of stock options | 3,368 | 4,721 | 3,249 |
Payments of cash dividends | -27,095 | -24,685 | -22,849 |
Excess tax benefits related to stock option exercises | 1,791 | 1,929 | 1,162 |
Net cash provided by (used in) financing activities | 103,099 | 30,308 | -20,410 |
Net increase (decrease) in cash and cash equivalents | 80,370 | -14,648 | -3,653 |
Cash and cash equivalents at beginning of year | 41,271 | 55,919 | 59,572 |
Cash and cash equivalents at end of year | 121,641 | 41,271 | 55,919 |
Cash paid (received) during the year for | ' | ' | ' |
Interest, net of amount capitalized | 36,923 | 35,226 | 35,403 |
Income taxes | 50,031 | 17,973 | -17,973 |
Noncash investing and financing activities | ' | ' | ' |
Property and equipment acquired through notes payable and capitalized lease obligations | $1,169 | $981 | $191 |
Note_1_Significant_Accounting_
Note 1 - Significant Accounting Policies | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||
1. SIGNIFICANT ACCOUNTING POLICIES | |||||||||
Operations Casey’s General Stores, Inc. and its subsidiaries (the Company/Casey’s) operate 1,808 convenience stores in 14 Midwest states. The stores are located primarily in smaller communities, many with populations of less than 5,000. Retail sales in 2014 were distributed as follows: 71% fuel, 20% grocery & other merchandise, and 9% prepared food & fountain. The Company’s products are readily available, and the Company is not dependent on a single supplier or only a few suppliers. | |||||||||
Principles of consolidation The consolidated financial statements include the financial statements of Casey’s General Stores, Inc. and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. | |||||||||
Use of estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect 1) the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and 2) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||
Cash equivalents We consider all highly liquid investments with a maturity at purchase of three months or less to be cash equivalents. Included in cash equivalents are money market funds and credit card, debit card and electronic benefits transfer transactions that process within three days. | |||||||||
Inventories Inventories, which consist of merchandise and fuel, are stated at the lower of cost or market. For fuel, cost is determined through the use of the first-in, first-out (FIFO) method. For merchandise inventories, cost is determined through the use of the last-in, first-out (LIFO) method for financial and income tax reporting applied to inventory values determined primarily by our FIFO accounting system for warehouse inventories. | |||||||||
The excess of current cost over the stated LIFO value was $48,777 and $44,792 at April 30, 2014 and 2013, respectively. There were no material LIFO liquidations during the periods presented. Below is a summary of the inventory values at April 30, 2014 and 2013: | |||||||||
Fiscal 2014 | Fiscal 2013 | ||||||||
Fuel | $ | 95,004 | $ | 87,262 | |||||
Merchandise | 109,829 | 102,252 | |||||||
Total inventory | $ | 204,833 | $ | 189,514 | |||||
Vendor allowances include rebates and other funds received from vendors to promote their products. The Company often receives such allowances on the basis of quantitative contract terms that vary by product and vendor or directly on the basis of purchases made. Vendor rebates in the form of rack display allowances (RDAs) are funds that we receive from various vendors for allocating certain shelf space to carry their specific products or to introduce new products in our stores for a particular period of time. The RDAs are treated as a reduction in cost of goods sold and are recognized ratably over the period covered by the applicable rebate agreement. These funds do not represent reimbursements of specific, incremental, identifiable costs incurred by us in selling the vendor’s products. 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. Reimbursements of an operating expense (e.g., advertising) are recorded as reductions of the related expense. | |||||||||
Renewable Identification Numbers (RINs) are recorded as a reduction in cost of goods sold in the period when the Company commits to a price and agrees to sell all of the RINs earned during a specified period. The Company includes in cost of goods sold the costs we incur to acquire fuel and merchandise, including excise taxes, less vendor allowances and rebates and RINs. | |||||||||
Goodwill Goodwill and intangible assets with indefinite lives are tested for impairment at least annually. The Company assesses impairment annually at year-end using a market based approach to establish fair value. All of the goodwill assigned to the individual stores is aggregated into a single reporting unit due to the similar economic characteristics of the stores. As of April 30, 2014, there was $120,406 of goodwill and management’s analysis of recoverability completed as of the fiscal year-end yielded no evidence of impairment. | |||||||||
Store closings and asset impairment The Company writes down property and equipment of stores it is closing to estimated net realizable value at the time management commits to a plan to close such stores and begins active marketing of the stores. The Company bases the estimated net realizable value of property and equipment on its experience in utilizing and/or disposing of similar assets and on estimates provided by its own and/or third-party real estate experts. | |||||||||
The Company monitors closed and underperforming stores for an indication that the carrying amount of assets may not be recoverable. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the assets, an impairment loss is recognized to the extent carrying value of the assets exceeds their estimated fair value. Fair value is based on management’s estimate of the price that would be received to sell an asset in an orderly transaction between market participants. The estimate is derived from offers, actual sale or disposition of assets subsequent to year-end, and other indications of fair value, which are considered Level 3 inputs. In determining whether an asset is impaired, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets, which for the Company is generally on a store-by-store basis. The Company incurred impairment charges of $2,542 in fiscal 2014, $3,680 in fiscal 2013, and $226 in fiscal 2012. Impairment charges are a component of operating expenses. | |||||||||
Depreciation and amortization Depreciation of property and equipment and amortization of capital lease assets are computed principally by the straight-line method over the following estimated useful lives: | |||||||||
Buildings | 25-40 years | ||||||||
Machinery and equipment | 5-30 years | ||||||||
Leasehold interest in property and equipment | Lesser of term of lease or life of asset | ||||||||
Leasehold improvements | Lesser of term of lease or life of asset | ||||||||
The Company monitors stores and will accelerate depreciation if the expected life of the asset is reduced due to the operation of the store or the Company’s plans. | |||||||||
Excise taxes Excise taxes approximating $646,000, $596,000, and $527,000 on retail fuel sales are included in total revenue and cost of goods sold for fiscal 2014, 2013, and 2012, respectively. | |||||||||
Income taxes The Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company calculates its current and deferred tax provision based on estimates and assumptions that could differ from actual results reflected in income tax returns filed in subsequent years. Adjustments based on filed returns are recorded when identified. | |||||||||
Revenue recognition The Company recognizes retail sales of fuel, grocery & other merchandise, prepared food & fountain, and commissions on lottery, prepaid phone cards, and video rentals at the time of the sale to the customer. Sales taxes collected from customers and remitted to the government are recorded on a net basis in the consolidated financial statements. | |||||||||
Net income per common share Basic earnings per share have been computed by dividing net income by the weighted average shares outstanding during each of the years. The calculation of diluted earnings per share treats stock options and restricted stock units outstanding as potential common shares to the extent they are dilutive. | |||||||||
Asset retirement obligations The Company recognizes the estimated future cost to remove underground storage tanks over the estimated useful life of the storage tank. The Company records a discounted liability for the fair value of an asset retirement obligation with a corresponding increase to the carrying value of the related long-lived asset at the time an underground storage tank is installed. The Company amortizes the amount added to other assets and recognizes accretion expense in connection with the discounted liability over the remaining life of the tank. The estimates of the anticipated future costs for removal of an underground storage tank are based on our prior experience with removal. Because these estimates are subjective and are currently based on historical costs with adjustments for estimated future changes in the associated costs, we expect the dollar amount of these obligations to change as more information is obtained. | |||||||||
There were no material changes in our asset retirement obligation estimates during fiscal 2014. The recorded asset for asset retirement obligations was $8,391 and $8,011 at April 30, 2014 and 2013, respectively, and is recorded in other assets, net of amortization. The discounted liability was $12,854 and $12,176 at April 30, 2014 and 2013, respectively, and is recorded in other long-term liabilities. | |||||||||
Self-insurance The Company is primarily self-insured for workers' compensation, general liability, and automobile claims. The self-insurance claim liability is determined actuarially at each year end based on claims filed and an estimate of claims incurred but not yet reported. Actuarial projections of the losses are employed due to the high degree of variability in the liability estimates. Some factors affecting the uncertainty of claims include the development time frame, settlement patterns, litigation and adjudication direction, and medical treatment and cost trends. The liability is not discounted. The balance of our self-insurance reserves were $28,429 and $24,039 for the years ended April 30, 2014 and 2013, respectively. | |||||||||
Environmental remediation liabilities The Company accrues for environmental remediation liabilities when it is probable a liability has been incurred and the amount of loss can be reasonably estimated. | |||||||||
Derivative instruments There were no options or futures contracts as of or during the years ended April 30, 2014, 2013, or 2012. However, we do from time to time, participate in a forward buy of certain commodities, primarily cheese and coffee. These are not accounted for as derivatives under the normal purchase and normal sale exclusions under the applicable guidance. | |||||||||
Stock-based compensation Stock-based compensation is recorded based upon the fair value of the award on the grant date. The cost of the award is recognized ratably in the statement of income over the vesting period of the award. | |||||||||
Segment reporting As of April 30, 2014, we operated 1,808 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 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 fuel, 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. | |||||||||
Recent accounting pronouncements In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”, to clarify the definition of discontinued operations, limiting it to disposals of components that represent a strategic shift that has or will have a major effect on operations and financial results. Examples of a strategic shift include disposals of a major geographic area, a major line of business, or a major equity method investment. The standard is effective prospectively for disposals that occur within annual periods beginning on or after December 15, 2014, and interim periods within those annual periods. It will be adopted by the Company May 1, 2015. Early application is permitted in specific instances. We are currently evaluating the impact of adoption on our financial statements, however, we do not expect it to have a material impact on our consolidated financial statements. | |||||||||
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on May 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. |
Note_2_Acquisitions
Note 2 - Acquisitions | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Business Combination Disclosure [Text Block] | ' | ||||||||
2. ACQUISITIONS | |||||||||
During the year ended April 30, 2014, the Company acquired 28 stores through a variety of single store and multi-store transactions with several unrelated third parties. Of the 28 stores acquired, 25 were opened during the 2014 fiscal year, one was closed permanently and two will be opened during the 2015 fiscal year. The acquisitions meet the criteria to be considered business combinations. 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 | $ | 1,622 | |||||||
Property and equipment | 24,469 | ||||||||
Total assets | 26,091 | ||||||||
Liabilities assumed: | |||||||||
Accrued expenses | 122 | ||||||||
Total liabilities | 122 | ||||||||
Net tangible assets acquired | 25,969 | ||||||||
Goodwill | 5,615 | ||||||||
Total consideration paid | $ | 31,584 | |||||||
The allocation of the purchase price to assets acquired and liabilities assumed for any acquisition 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): | |||||||||
Years Ended April 30, | |||||||||
2014 | 2013 | ||||||||
Total revenue | $ | 7,885,634 | $ | 7,362,816 | |||||
Net income | $ | 135,309 | $ | 112,510 | |||||
Net income per common share | |||||||||
Basic | $ | 3.52 | $ | 2.94 | |||||
Diluted | $ | 3.48 | $ | 2.91 | |||||
Note_3_Fair_Value_of_Financial
Note 3 - Fair Value of Financial Instruments and Long Term Debt | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||
3. FAIR VALUE OF FINANCIAL INSTRUMENTS AND LONG-TERM DEBT | |||||||||||||
A summary of the fair value of the Company’s financial instruments follows. | |||||||||||||
Cash and cash equivalents, receivables, and accounts payable The carrying amount approximates fair value due to the short maturity of these instruments or the recent purchase of the instruments at current rates of interest. | |||||||||||||
Long-term debt The fair value of the Company’s long-term debt and capital lease obligations 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 and capital lease obligations was approximately $841,000 and $721,000, respectively, at April 30, 2014 and 2013. | |||||||||||||
The Company’s long-term debt at carrying amount by issuance is as follows: | |||||||||||||
As of April 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Capitalized lease obligations discounted at 5.22% to 7.09% due in various monthly installments through 2048 (Note 7) | $ | 10,195 | 9,891 | ||||||||||
5.72% Senior notes due in 14 installments beginning September 30, 2012 and ending March 30, 2020 | 75,000 | 90,000 | |||||||||||
5.22% Senior notes due August 9, 2020 | 569,000 | 569,000 | |||||||||||
3.67% Senior notes (Series A) due in 7 installments beginning June 17, 2022, and ending June 15, 2028 | 150,000 | — | |||||||||||
3.75% Senior notes (Series B) due in 7 installments beginning December 17, 2022 and ending December 18, 2028 | 50,000 | — | |||||||||||
854,195 | 668,891 | ||||||||||||
Less current maturities | 553 | 15,810 | |||||||||||
$ | 853,642 | 653,081 | |||||||||||
At April 30, 2014, the Company had a bank line of credit arrangement consisting of two Promissory Notes, in the principal amount of $50,000 each (together, the “Notes”). The Notes evidenced a revolving line of credit in the aggregate principal amount of $100,000 and bear interest at variable rates subject to change from time to time based on changes in an independent index referred to in the Notes as the Federal Funds Offered Rate (the “Index”). On December 17, 2013 the Company cancelled a $25,000 Promissory Note that was part of its line of credit. The interest rate to be applied to the unpaid principal balance of the first Note was at a rate of 0.750% over the Index. The interest rate applicable to the second note is 1.000% over the Index. There was a $0 balance at April 30, 2014 and a $59,100 balance owed at April 30, 2013 | |||||||||||||
Interest expense is net of interest income of $214, $211, and $208 for the years ended April 30, 2014, 2013, and 2012, respectively. Interest expense is also net of interest capitalized of $1,177, $894, and $674 during the years ended April 30, 2014, 2013, and 2012, respectively. | |||||||||||||
The agreements relating to the above long-term debt contain certain operating and financial covenants. At April 30, 2014, the Company was in compliance with all such covenants. Listed below are the aggregate maturities of long-term debt, including capitalized lease obligations, for the 5 years commencing May 1, 2014 and thereafter: | |||||||||||||
Years ended April 30, | Capital Leases | Senior Notes | Total | ||||||||||
2015 | $ | 553 | — | 553 | |||||||||
2016 | 398 | 15,000 | 15,398 | ||||||||||
2017 | 375 | 15,000 | 15,375 | ||||||||||
2018 | 396 | 15,000 | 15,396 | ||||||||||
2019 | 417 | 15,000 | 15,417 | ||||||||||
Thereafter | 8,056 | 784,000 | 792,056 | ||||||||||
$ | 10,195 | 844,000 | $ | 854,195 | |||||||||
Note_4_Preferred_and_Common_St
Note 4 - Preferred and Common Stock | 12 Months Ended | |||||||||||||||
Apr. 30, 2014 | ||||||||||||||||
Preferred And Common Stock [Abstract] | ' | |||||||||||||||
Preferred And Common Stock [Text Block] | ' | |||||||||||||||
4 | Preferred and Common Stock | |||||||||||||||
Preferred stock The Company has 1,000,000 authorized shares of preferred stock of which 250,000 shares have been designated as Series A Serial Preferred Stock. No shares have been issued. | ||||||||||||||||
Common stock The Company currently has 120,000,000 authorized shares of common stock. | ||||||||||||||||
Stock option plans The 2009 Stock Incentive Plan (the “Plan”), was approved by the Board of Directors 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 available for grant at April 30, 2014 under the Plan. 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. At April 30, 2014, options for 712,024 shares (which expire between 2015 and 2021) were outstanding. All stock option shares issued are previously unissued authorized shares. | ||||||||||||||||
On June 10, 2011, restricted stock units with respect to a total of 9,198 shares were granted to certain employees under the annual incentive compensation program. The fair value of the Company’s shares on the date of grant was $40.49. These awards vested on May 1, 2014 and compensation expense was recognized ratably over the vesting period. This award was granted at no cost to the employee. | ||||||||||||||||
On June 23, 2011, stock options totaling 441,000 shares were granted to certain officers and key employees. These awards vested on June 23, 2014, and compensation expense was recognized ratably over the vesting period. This award was granted at no cost to the employee. | ||||||||||||||||
On June 23, 2011, restricted stock units totaling 15,000 shares were granted to the CEO. The fair value of the Company’s shares on the date of grant was $44.39. This award was granted at no cost to the employee. This award vested on June 23, 2014 and compensation expense was recognized ratably over the vesting period. | ||||||||||||||||
On September 16, 2011, restricted stock units with respect to a total of 14,000 shares were granted to the non-employee members of the Board. The fair value of the Company’s shares on the date of grant was $47.59. This award was also granted at no cost to the non-employee members of the Board. This award vested on May 1, 2012 and compensation expense was recognized ratably over the vesting period. | ||||||||||||||||
On June 8, 2012, restricted stock units with respect to a total of 32,998 shares were granted to certain employees under the annual incentive compensation program. The fair value of the Company’s shares on the date of grant was $59.48. These awards will vest on June 8, 2015 and compensation expense is being recognized ratably over the vesting period. This award was granted at no cost to the grantee. | ||||||||||||||||
On September 14, 2012, restricted stock units with respect to a total of 14,000 shares were granted to the non-employee members of the Board. The fair value of the Company’s shares on the date of grant was $58.93. This award was granted at no cost to the non-employee members of the Board. This award vested on May 1, 2013 and compensation expense was recognized ratably over the vesting period. | ||||||||||||||||
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. The fair value of the Company’s shares was $62.26 on June 7, 2013 (76,150 shares) and $60.47 on June 19, 2013 (1,500 shares). 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. The fair value of the Company’s shares on the date of grant was $71.02. This award was granted at no cost to the non-employee members of the Board. This award vested on May 1, 2014 and compensation expense was recognized ratably over the vesting period. | ||||||||||||||||
The 2000 Stock Option Plan allowed the grant of options with an exercise price equal to the fair value of the Company’s stock on the date of grant that expired ten years after the date of grant. Vesting was generally over a three to five-year service period. The Non-employee Directors’ Stock Option Plan allowed the grant of options with an exercise price equal to the average of the last reported sale prices of shares of common stock on the last trading day of each of the twelve months preceding the award of the option. The term of such options was ten years from the date of grant, and each option is exercisable immediately upon grant. The aggregate number of shares of Common Stock that could have been granted pursuant to the Director Stock Plan was 200,000 shares, subject to adjustment to reflect any future stock dividends, stock splits, or other relevant capitalization changes. Shares issued as restricted stock units become unrestricted shares of common stock at the end of the vesting period. | ||||||||||||||||
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, 2011 | 775,109 | $ | 23.38 | |||||||||||||
Granted | 441,000 | 44.39 | ||||||||||||||
Exercised | (159,600 | ) | 20.36 | |||||||||||||
Forfeited | (3,000 | ) | 36.19 | |||||||||||||
Outstanding at April 30, 2012 | 1,053,509 | $ | 32.59 | |||||||||||||
Granted | - | - | ||||||||||||||
Exercised | (198,200 | ) | 23.82 | |||||||||||||
Forfeited | (500 | ) | 14.08 | |||||||||||||
Outstanding at April 30, 2013 | 854,809 | $ | 34.64 | |||||||||||||
Granted | - | - | ||||||||||||||
Exercised | (140,785 | ) | 23.93 | |||||||||||||
Forfeited | (2,000 | ) | 44.39 | |||||||||||||
Outstanding at April 30, 2014 | 712,024 | $ | 36.73 | |||||||||||||
Information concerning the issuance of restricted stock units under the Plan is presented in the following table: | ||||||||||||||||
Unvested at April 30, 2011 | 14,000 | |||||||||||||||
Granted | 38,198 | |||||||||||||||
Vested | (14,000 | ) | ||||||||||||||
Forfeited | - | |||||||||||||||
Unvested at April 30, 2012 | 38,198 | |||||||||||||||
Granted | 46,998 | |||||||||||||||
Vested | (14,000 | ) | ||||||||||||||
Forfeited | - | |||||||||||||||
Unvested at April 30, 2013 | 71,196 | |||||||||||||||
Granted | 91,650 | |||||||||||||||
Vested | (14,150 | ) | ||||||||||||||
Forfeited | (150 | ) | ||||||||||||||
Unvested at April 30, 2014 | 148,546 | |||||||||||||||
At April 30, 2014, all outstanding options had an aggregate intrinsic value of $22,737 and a weighted average remaining contractual life of 6 years. The vested options totaled 284,024 shares with a weighted average exercise price of $25.18 per share and a weighted average remaining contractual life of 4.4 years. The aggregate intrinsic value for the vested options as of April 30, 2014 was $12,349. The aggregate intrinsic value for the total of all options exercised during the year ended April 30, 2014 was $2,952, and there were no shares that vested during the year ended April 30, 2014. | ||||||||||||||||
The grant date fair value for the June 23, 2011 options were $14.65, which was estimated utilizing the Black Scholes valuation model. The significant assumptions included: | ||||||||||||||||
Risk-free interest rate | 2.14% | |||||||||||||||
Expected option life (years) | 6.11 | |||||||||||||||
Expected volatility | 37% | |||||||||||||||
Expected dividend yield | 1.58% | |||||||||||||||
Total compensation costs recorded for the years ended April 30, 2014, 2013 and 2012 were $5,600, $4,270, and $3,792, respectively, for the stock option and restricted stock unit awards. As of April 30, 2014, there was $325 of total unrecognized compensation costs related to the Plan and Prior Plans for stock options that are expected to be recognized ratably through 2015, and $4,036 of unrecognized compensation costs related to restricted stock units which are expected to be recognized ratably through fiscal 2017. | ||||||||||||||||
At April 30, 2014, the range of exercise prices for outstanding options was $17.64 – $44.39 and the weighted average remaining contractual life of outstanding options was 6 years. The number of shares and weighted average remaining contractual life of the options by range of applicable exercise prices at April 30, 2014 were as follows: | ||||||||||||||||
Range of | Number | Weighted average | Weighted average remaining | |||||||||||||
exercise prices | of shares | exercise price | contractual life (years) | |||||||||||||
$ | 17.64 | 6,000 | 17.64 | 1 | ||||||||||||
20.68 – 26.92 | 278,024 | 25.34 | 4.4 | |||||||||||||
44.39 | 428,000 | 44.39 | 7.2 | |||||||||||||
712,024 | ||||||||||||||||
Note_5_Net_Income_Per_Common_S
Note 5 - Net Income Per Common Share | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||
5. NET INCOME PER COMMON SHARE | |||||||||||||
Computations for basic and diluted earnings per common share are presented below: | |||||||||||||
Years ended April 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Basic | |||||||||||||
Net income | $ | 134,514 | $ | 110,625 | $ | 116,791 | |||||||
Weighted average shares outstanding-basic | 38,457,680 | 38,297,083 | 38,068,001 | ||||||||||
Basic earnings per common share | $ | 3.5 | $ | 2.89 | $ | 3.07 | |||||||
Diluted | |||||||||||||
Net income | $ | 134,514 | $ | 110,625 | $ | 116,791 | |||||||
Weighted-average shares outstanding-basic | 38,457,680 | 38,297,083 | 38,068,001 | ||||||||||
Plus effect of stock options and restricted stock units | 410,726 | 322,993 | 323,703 | ||||||||||
Weighted-average shares outstanding-diluted | 38,868,406 | 38,620,076 | 38,391,704 | ||||||||||
Diluted earnings per common share | $ | 3.46 | $ | 2.86 | $ | 3.04 | |||||||
Options to purchase shares of common stock that were not included in the computation of diluted earnings per share, because their inclusion would have been antidilutive, were 439,000 for fiscal 2012. All options were included for fiscal 2014 and fiscal 2013. |
Note_6_Income_Taxes
Note 6 - Income Taxes | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||
6. INCOME TAXES | |||||||||||||
Income tax expense attributable to earnings consisted of the following components: | |||||||||||||
Years ended April 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current tax expense | |||||||||||||
Federal | $ | 44,078 | $ | 23,519 | $ | 9,937 | |||||||
State | 5,657 | 4,455 | 2,345 | ||||||||||
49,735 | 27,974 | 12,282 | |||||||||||
Deferred tax expense | 22,283 | 36,530 | 54,442 | ||||||||||
Total income tax provision | $ | 72,018 | $ | 64,504 | $ | 66,724 | |||||||
The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities were as follows: | |||||||||||||
As of April 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets | |||||||||||||
Accrued liabilities | $ | 11,878 | $ | 9,916 | |||||||||
Deferred compensation | 6,272 | 6,050 | |||||||||||
Equity compensation | 3,598 | 916 | |||||||||||
Unrecognized tax benefits | 3,113 | 3,128 | |||||||||||
State net operating losses and tax credits | 2,892 | 3,902 | |||||||||||
Other | 124 | 100 | |||||||||||
Total gross deferred tax assets | 27,877 | 24,012 | |||||||||||
Less valuation allowance | (91 | ) | — | ||||||||||
Total net deferred tax assets | 27,786 | 24,012 | |||||||||||
Deferred tax liabilities | |||||||||||||
Property and equipment depreciation | (318,565 | ) | (295,951 | ) | |||||||||
Goodwill | (14,989 | ) | (11,919 | ) | |||||||||
Other | (307 | ) | 66 | ||||||||||
Total gross deferred tax liabilities | (333,861 | ) | (307,804 | ) | |||||||||
Net deferred tax liability | $ | (306,075 | ) | $ | (283,792 | ) | |||||||
At April 30, 2014, the Company had net operating loss carryforwards for state income tax purposes of approximately $74,670, which are available to offset future state taxable income. These net operating loss carryforwards expire during the years 2017 through 2033. In addition, the Company had state alternative minimum tax credit carryforwards of approximately $129, which are available to reduce future state regular income taxes over an indefinite period. | |||||||||||||
There was a valuation allowance of $91 and $0 for deferred tax assets as of April 30, 2014 and 2013 related to state net operating loss carryforwards. There was a net change in the valuation allowance of $91 and $0 for the years ended April 30, 2014 and 2013. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected taxable income, and tax planning strategies in making this assessment. | |||||||||||||
Total reported tax expense applicable to the Company’s continuing operations varies from the tax that would have resulted from applying the statutory U.S. federal income tax rates to income before income taxes. Out of period adjustments of $2,760 were recorded in fiscal 2014. | |||||||||||||
Years ended April 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income taxes at the statutory rates | 35.00% | 35.00% | 35.00% | ||||||||||
Federal tax credits | -1.9 | -1.7 | -2.1 | ||||||||||
State income taxes, net of federal tax benefit | 3.3 | 2.6 | 2.9 | ||||||||||
Out of period adjustments | -1.3 | — | — | ||||||||||
Other | -0.2 | 0.9 | 0.6 | ||||||||||
34.90% | 36.80% | 36.40% | |||||||||||
The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company had a total of $9,244 and $8,938 in gross unrecognized tax benefits at April 30, 2014 and 2013, respectively which is recorded in other long-term liabilities in the consolidated balance sheet. Of this amount, $6,131 represents the amount of unrecognized tax benefits that, if recognized, would impact our effective tax rate. Unrecognized tax benefits increased $306 during the twelve months ended April 30, 2014, due primarily to the expiration of certain statute of limitations offset by a greater increase associated with income tax filing positions for the current year. | |||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||||
2014 | 2013 | ||||||||||||
Beginning balance | $ | 8,938 | $ | 7,538 | |||||||||
Additions based on tax positions related to current year | 1,229 | 2,807 | |||||||||||
Additions for tax positions of prior years | 415 | — | |||||||||||
Reductions for tax positions of prior years | — | (37 | ) | ||||||||||
Reductions due to lapse of applicable statute of limitations | (1,338 | ) | (1,370 | ) | |||||||||
Settlements | — | — | |||||||||||
Ending balance | $ | 9,244 | $ | 8,938 | |||||||||
The total net amount of accrued interest and penalties for such unrecognized tax benefits was $402 and $286 at April 30, 2014 and 2013, respectively, and is included in other long-term liabilities. Net interest and penalties included in income tax expense for the twelve month period ended April 30, 2014 was an increase in tax expense of $116 and an increase of $37 for the year ended April 30, 2013. | |||||||||||||
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, the Company’s best estimate of the reasonably possible change in the amount of the gross unrecognized tax benefits is a decrease of $2,661 during the next twelve months mainly due to the expiration of certain statute of limitations. The federal statute of limitations remains open for the years 2010 and forward. Tax years 2009 and forward are subject to audit by state tax authorities depending on open statute of limitations waivers and the tax code of each state. | |||||||||||||
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 do not expect it to have a material impact on our consolidated financial statements. |
Note_7_Leases
Note 7 - Leases | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Leases [Abstract] | ' | ||||||||
Leases of Lessee Disclosure [Text Block] | ' | ||||||||
7. LEASES | |||||||||
The Company leases certain property and equipment used in its operations. Generally, the leases are for primary terms of from five to twenty years with options either to renew for additional periods or to purchase the premises and call for payment of property taxes, insurance, and maintenance by the lessee. | |||||||||
The following is an analysis of the leased property under capital leases by major classes: | |||||||||
Asset balances at April 30, | |||||||||
2014 | 2013 | ||||||||
Real estate | $ | 13,668 | $ | 12,874 | |||||
Equipment | 2,610 | 2,612 | |||||||
16,278 | 15,486 | ||||||||
Less accumulated amortization | 5,202 | 4,900 | |||||||
$ | 11,076 | $ | 10,586 | ||||||
Future minimum payments under the capital leases and noncancelable operating leases with initial or remaining terms of one year or more consisted of the following at April 30, 2014: | |||||||||
Years ended April 30, | Capital | Operating | |||||||
leases | leases | ||||||||
2015 | $ | 1,078 | $ | 872 | |||||
2016 | 904 | 630 | |||||||
2017 | 868 | 547 | |||||||
2018 | 870 | 539 | |||||||
2019 | 876 | 378 | |||||||
Thereafter | 12,875 | 261 | |||||||
Total minimum lease payments | 17,471 | $ | 3,227 | ||||||
Less amount representing interest | 7,276 | ||||||||
Present value of net minimum lease payments | $ | 10,195 | |||||||
The total rent expense under operating leases was $1,424 in 2014, $1,773 in 2013, and $1,269 in 2012. |
Note_8_Benefit_Plans
Note 8 - Benefit Plans | 12 Months Ended |
Apr. 30, 2014 | |
Disclosure Text Block Supplement [Abstract] | ' |
Compensation and Employee Benefit Plans [Text Block] | ' |
8. Benefit plans | |
401(k) plan The Company provides employees with a defined contribution 401(k) plan. The 401(k) plan covers all employees who meet minimum age and service requirements. The Company contributions consist of matching amounts and are allocated based on employee contributions. Contributions to the 401(k) plan were $5,348, $4,949, and $3,681 for the years ended April 30, 2014, 2013, and 2012, respectively. | |
On April 30, 2014 and 2013, 1,488,510 and 1,496,465 shares of common stock, respectively, were held by the trustee of the 401(k) plan in trust for distribution to eligible participants upon death, disability, retirement, or termination of employment. Shares held by the 401(k) plan are treated as outstanding in the computation of net income per common share. | |
Supplemental executive retirement plan The Company has a nonqualified supplemental executive retirement plan (SERP) for two of its executive officers, one of whom retired April 30, 2003 and the other on April 30, 2008. The SERP provides for the Company to pay annual retirement benefits, depending on retirement dates, up to 50% of base compensation until death of the officer. If death occurs within twenty years of retirement, the benefits become payable to the officer’s spouse (at a reduced level) until the spouse’s death or twenty years from the date of the officer’s retirement, whichever comes first. The Company has accrued the deferred compensation over the term of employment. The amounts accrued at April 30, 2014 and 2013, respectively, were $5,925 and $6,457. The discount rates used were 4.4% and 4.0%, respectively, at April 30, 2014 and 2013. The amount expensed in fiscal 2014 was $93 and the Company expects to pay $625 per year for each of the next five years. Expense incurred in fiscal 2013 and fiscal 2012 was $471 and $662, respectively. | |
Other postemployment benefits The Company also has deferred compensation agreements with three other individuals, one current and two former employees. The amounts accrued at April 30, 2014 and 2013 were $3,950 and $4,016, respectively. The Company expects to pay $167, $497, $497, $497 and $441 the next five years under the agreements. The expense incurred in fiscal 2014, 2013 and 2012 was $156, $438, and $563 respectively. |
Note_9_Commitments
Note 9 - Commitments | 12 Months Ended |
Apr. 30, 2014 | |
Disclosure Text Block Supplement [Abstract] | ' |
Commitments Disclosure [Text Block] | ' |
9. commitments | |
The Company has entered into an employment agreement with its chief executive officer. The agreement provides that the officer will receive aggregate base compensation of not less than $660 per year exclusive of bonuses. The agreement also provides for certain payments in the case of death or disability of the officer. The Company also has entered into employment agreements with thirteen other key employees, providing for certain payments in the event of termination following a change of control of the Company. |
Note_10_Contingencies
Note 10 - Contingencies | 12 Months Ended |
Apr. 30, 2014 | |
Loss Contingency [Abstract] | ' |
Contingencies Disclosure [Text Block] | ' |
10. CONTINGENCIES | |
Environmental compliance The United States Environmental Protection Agency and several states have adopted laws and regulations relating to underground storage tanks used for petroleum products. Several states in which the Company does business have trust fund programs with provisions for sharing or reimbursing corrective action or remediation costs. | |
Management currently believes that substantially all capital expenditures for electronic monitoring, cathodic protection, and overfill/spill protection to comply with existing regulations have been completed. The Company has an accrued liability at April 30, 2014 and 2013 of approximately $300 and $418, respectively, for estimated expenses related to anticipated corrective actions or remediation efforts, including relevant legal and consulting costs. Management believes the Company has no material joint and several environmental liability with other parties. Additional regulations or amendments to the existing regulations could result in future revisions to such estimated expenditures. | |
Legal matters 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”. 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 fuel 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. | |
Other At April 30, 2014, the Company was partially self-insured for workers’ compensation claims in all fourteen states of its marketing territory and was also partially self-insured for general liability and auto liability under an agreement that provides for annual stop-loss limits equal to or exceeding approximately $1,000. To facilitate this agreement, letters of credit approximating $15,000 and $15,500, respectively, were issued and outstanding at April 30, 2014 and 2013, on the insurance company’s behalf. The Company also has investments of approximately $223 in escrow as required by one state for partial self-insurance of workers’ compensation claims. Additionally, the Company is self-insured for its portion of employee medical expenses. At April 30, 2014 and 2013, the Company had $28,429 and $24,039, respectively, in accrued expenses for estimated claims relating to self-insurance, the majority of which has been actuarially determined. |
Note_11_Subsequent_Events
Note 11 - Subsequent Events | 12 Months Ended |
Apr. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
11. SUBSEQUENT EVENTS | |
Events that have occurred subsequent to April 30, 2014 have been evaluated for disclosure through the filing date of this Annual Report on Form 10-K with the Securities and Exchange Commission. |
Note_12_Quaterly_Financial_Dat
Note 12 - Quaterly Financial Data | 12 Months Ended | ||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||||||
12. Quarterly Financial Data (Dollars in thousands, except per share amounts) (Unaudited) | |||||||||||||||||||||
Year ended April 30, 2014 | |||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Year Total | |||||||||||||||||
Total revenue | |||||||||||||||||||||
Fuel | $ | 1,514,874 | 1,416,980 | 1,255,774 | 1,366,952 | 5,554,580 | |||||||||||||||
Grocery & other merchandise | 423,585 | 416,552 | 364,846 | 378,251 | 1,583,234 | ||||||||||||||||
Prepared food & fountain | 166,248 | 171,751 | 158,200 | 162,977 | 659,176 | ||||||||||||||||
Other | 10,042 | 10,602 | 11,235 | 11,386 | 43,265 | ||||||||||||||||
$ | 2,114,749 | 2,015,885 | 1,790,055 | 1,919,566 | 7,840,255 | ||||||||||||||||
Gross profit* | |||||||||||||||||||||
Fuel | $ | 94,316 | 70,832 | 59,075 | 55,892 | 280,115 | |||||||||||||||
Grocery & other merchandise | 138,412 | 134,708 | 113,429 | 121,387 | 507,936 | ||||||||||||||||
Prepared food & fountain | 102,754 | 106,171 | 96,147 | 97,924 | 402,996 | ||||||||||||||||
Other | 10,028 | 10,590 | 11,222 | 11,372 | 43,212 | ||||||||||||||||
$ | 345,510 | 322,301 | 279,873 | 286,575 | 1,234,259 | ||||||||||||||||
Net income | $ | 55,710 | 41,319 | 14,669 | 22,816 | 134,514 | |||||||||||||||
Income per common share | |||||||||||||||||||||
Basic | $ | 1.45 | 1.07 | 0.38 | 0.59 | 3.5 | |||||||||||||||
Diluted | $ | 1.43 | 1.06 | 0.38 | 0.59 | 3.46 | |||||||||||||||
Year ended April 30, 2013 | |||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Year Total | |||||||||||||||||
Total revenue | |||||||||||||||||||||
Fuel | $ | 1,330,670 | 1,393,476 | 1,185,640 | 1,319,371 | 5,229,157 | |||||||||||||||
Grocery & other merchandise | 386,129 | 362,662 | 329,657 | 340,263 | 1,418,711 | ||||||||||||||||
Prepared food & fountain | 142,709 | 146,540 | 137,033 | 138,642 | 564,924 | ||||||||||||||||
Other | 8,794 | 8,966 | 10,035 | 10,253 | 38,048 | ||||||||||||||||
$ | 1,868,302 | 1,911,644 | 1,662,365 | 1,808,529 | 7,250,840 | ||||||||||||||||
Gross profit* | |||||||||||||||||||||
Fuel | $ | 58,795 | 57,634 | 52,002 | 64,287 | 232,718 | |||||||||||||||
Grocery & other merchandise | 128,834 | 121,206 | 104,660 | 107,963 | 462,663 | ||||||||||||||||
Prepared food & fountain | 90,565 | 91,515 | 83,011 | 83,902 | 348,993 | ||||||||||||||||
Other | 8,780 | 8,958 | 10,013 | 10,240 | 37,991 | ||||||||||||||||
$ | 286,974 | 279,313 | 249,686 | 266,392 | 1,082,365 | ||||||||||||||||
Net income | $ | 39,031 | 32,859 | 15,463 | 23,272 | 110,625 | |||||||||||||||
Income per common share | |||||||||||||||||||||
Basic | $ | 1.02 | 0.86 | 0.4 | 0.61 | 2.89 | |||||||||||||||
Diluted | $ | 1.01 | 0.85 | 0.4 | 0.6 | 2.86 | |||||||||||||||
*Gross profit is given before charge for depreciation and amortization and credit card fees. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Consolidation, Policy [Policy Text Block] | ' | ||||||||
Principles of consolidation The consolidated financial statements include the financial statements of Casey’s General Stores, Inc. and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. | |||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||
Use of estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect 1) the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and 2) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||
Cash equivalents We consider all highly liquid investments with a maturity at purchase of three months or less to be cash equivalents. Included in cash equivalents are money market funds and credit card, debit card and electronic benefits transfer transactions that process within three days. | |||||||||
Inventory, Policy [Policy Text Block] | ' | ||||||||
Inventories Inventories, which consist of merchandise and fuel, are stated at the lower of cost or market. For fuel, cost is determined through the use of the first-in, first-out (FIFO) method. For merchandise inventories, cost is determined through the use of the last-in, first-out (LIFO) method for financial and income tax reporting applied to inventory values determined primarily by our FIFO accounting system for warehouse inventories. | |||||||||
The excess of current cost over the stated LIFO value was $48,777 and $44,792 at April 30, 2014 and 2013, respectively. There were no material LIFO liquidations during the periods presented. Below is a summary of the inventory values at April 30, 2014 and 2013: | |||||||||
Fiscal 2014 | Fiscal 2013 | ||||||||
Fuel | $ | 95,004 | $ | 87,262 | |||||
Merchandise | 109,829 | 102,252 | |||||||
Total inventory | $ | 204,833 | $ | 189,514 | |||||
Vendor allowances include rebates and other funds received from vendors to promote their products. The Company often receives such allowances on the basis of quantitative contract terms that vary by product and vendor or directly on the basis of purchases made. Vendor rebates in the form of rack display allowances (RDAs) are funds that we receive from various vendors for allocating certain shelf space to carry their specific products or to introduce new products in our stores for a particular period of time. The RDAs are treated as a reduction in cost of goods sold and are recognized ratably over the period covered by the applicable rebate agreement. These funds do not represent reimbursements of specific, incremental, identifiable costs incurred by us in selling the vendor’s products. 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. Reimbursements of an operating expense (e.g., advertising) are recorded as reductions of the related expense. | |||||||||
Renewable Identification Numbers (RINs) are recorded as a reduction in cost of goods sold in the period when the Company commits to a price and agrees to sell all of the RINs earned during a specified period. The Company includes in cost of goods sold the costs we incur to acquire fuel and merchandise, including excise taxes, less vendor allowances and rebates and RINs. | |||||||||
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' | ||||||||
Goodwill Goodwill and intangible assets with indefinite lives are tested for impairment at least annually. The Company assesses impairment annually at year-end using a market based approach to establish fair value. All of the goodwill assigned to the individual stores is aggregated into a single reporting unit due to the similar economic characteristics of the stores. As of April 30, 2014, there was $120,406 of goodwill and management’s analysis of recoverability completed as of the fiscal year-end yielded no evidence of impairment. | |||||||||
Property, Plant and Equipment, Impairment [Policy Text Block] | ' | ||||||||
Store closings and asset impairment The Company writes down property and equipment of stores it is closing to estimated net realizable value at the time management commits to a plan to close such stores and begins active marketing of the stores. The Company bases the estimated net realizable value of property and equipment on its experience in utilizing and/or disposing of similar assets and on estimates provided by its own and/or third-party real estate experts. | |||||||||
The Company monitors closed and underperforming stores for an indication that the carrying amount of assets may not be recoverable. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the assets, an impairment loss is recognized to the extent carrying value of the assets exceeds their estimated fair value. Fair value is based on management’s estimate of the price that would be received to sell an asset in an orderly transaction between market participants. The estimate is derived from offers, actual sale or disposition of assets subsequent to year-end, and other indications of fair value, which are considered Level 3 inputs. In determining whether an asset is impaired, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets, which for the Company is generally on a store-by-store basis. The Company incurred impairment charges of $2,542 in fiscal 2014, $3,680 in fiscal 2013, and $226 in fiscal 2012. Impairment charges are a component of operating expenses. | |||||||||
Depreciation, Depletion, and Amortization [Policy Text Block] | ' | ||||||||
Depreciation and amortization Depreciation of property and equipment and amortization of capital lease assets are computed principally by the straight-line method over the following estimated useful lives: | |||||||||
Buildings | 25-40 years | ||||||||
Machinery and equipment | 5-30 years | ||||||||
Leasehold interest in property and equipment | Lesser of term of lease or life of asset | ||||||||
Leasehold improvements | Lesser of term of lease or life of asset | ||||||||
The Company monitors stores and will accelerate depreciation if the expected life of the asset is reduced due to the operation of the store or the Company’s plans. | |||||||||
Excise Taxes [Policy Text Block] | ' | ||||||||
Excise taxes Excise taxes approximating $646,000, $596,000, and $527,000 on retail fuel sales are included in total revenue and cost of goods sold for fiscal 2014, 2013, and 2012, respectively. | |||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||
Income taxes The Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company calculates its current and deferred tax provision based on estimates and assumptions that could differ from actual results reflected in income tax returns filed in subsequent years. Adjustments based on filed returns are recorded when identified. | |||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ||||||||
Revenue recognition The Company recognizes retail sales of fuel, grocery & other merchandise, prepared food & fountain, and commissions on lottery, prepaid phone cards, and video rentals at the time of the sale to the customer. Sales taxes collected from customers and remitted to the government are recorded on a net basis in the consolidated financial statements. | |||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||
Net income per common share Basic earnings per share have been computed by dividing net income by the weighted average shares outstanding during each of the years. The calculation of diluted earnings per share treats stock options and restricted stock units outstanding as potential common shares to the extent they are dilutive. | |||||||||
Asset Retirement Obligations, Policy [Policy Text Block] | ' | ||||||||
Asset retirement obligations The Company recognizes the estimated future cost to remove underground storage tanks over the estimated useful life of the storage tank. The Company records a discounted liability for the fair value of an asset retirement obligation with a corresponding increase to the carrying value of the related long-lived asset at the time an underground storage tank is installed. The Company amortizes the amount added to other assets and recognizes accretion expense in connection with the discounted liability over the remaining life of the tank. The estimates of the anticipated future costs for removal of an underground storage tank are based on our prior experience with removal. Because these estimates are subjective and are currently based on historical costs with adjustments for estimated future changes in the associated costs, we expect the dollar amount of these obligations to change as more information is obtained. | |||||||||
There were no material changes in our asset retirement obligation estimates during fiscal 2014. The recorded asset for asset retirement obligations was $8,391 and $8,011 at April 30, 2014 and 2013, respectively, and is recorded in other assets, net of amortization. The discounted liability was $12,854 and $12,176 at April 30, 2014 and 2013, respectively, and is recorded in other long-term liabilities. | |||||||||
Self Insurance Reserve [Policy Text Block] | ' | ||||||||
Self-insurance The Company is primarily self-insured for workers' compensation, general liability, and automobile claims. The self-insurance claim liability is determined actuarially at each year end based on claims filed and an estimate of claims incurred but not yet reported. Actuarial projections of the losses are employed due to the high degree of variability in the liability estimates. Some factors affecting the uncertainty of claims include the development time frame, settlement patterns, litigation and adjudication direction, and medical treatment and cost trends. The liability is not discounted. The balance of our self-insurance reserves were $28,429 and $24,039 for the years ended April 30, 2014 and 2013, respectively. | |||||||||
Environmental Costs, Policy [Policy Text Block] | ' | ||||||||
Environmental remediation liabilities The Company accrues for environmental remediation liabilities when it is probable a liability has been incurred and the amount of loss can be reasonably estimated. | |||||||||
Derivatives, Policy [Policy Text Block] | ' | ||||||||
Derivative instruments There were no options or futures contracts as of or during the years ended April 30, 2014, 2013, or 2012. However, we do from time to time, participate in a forward buy of certain commodities, primarily cheese and coffee. These are not accounted for as derivatives under the normal purchase and normal sale exclusions under the applicable guidance. | |||||||||
Compensation Related Costs, Policy [Policy Text Block] | ' | ||||||||
Stock-based compensation Stock-based compensation is recorded based upon the fair value of the award on the grant date. The cost of the award is recognized ratably in the statement of income over the vesting period of the award. | |||||||||
Segment Reporting, Policy [Policy Text Block] | ' | ||||||||
Segment reporting As of April 30, 2014, we operated 1,808 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 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 fuel, 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. | |||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||||||||
Recent accounting pronouncements In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”, to clarify the definition of discontinued operations, limiting it to disposals of components that represent a strategic shift that has or will have a major effect on operations and financial results. Examples of a strategic shift include disposals of a major geographic area, a major line of business, or a major equity method investment. The standard is effective prospectively for disposals that occur within annual periods beginning on or after December 15, 2014, and interim periods within those annual periods. It will be adopted by the Company May 1, 2015. Early application is permitted in specific instances. We are currently evaluating the impact of adoption on our financial statements, however, we do not expect it to have a material impact on our consolidated financial statements. | |||||||||
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on May 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. |
Note_1_Significant_Accounting_1
Note 1 - Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
Fiscal 2014 | Fiscal 2013 | ||||||||
Fuel | $ | 95,004 | $ | 87,262 | |||||
Merchandise | 109,829 | 102,252 | |||||||
Total inventory | $ | 204,833 | $ | 189,514 | |||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
Buildings | 25-40 years | ||||||||
Machinery and equipment | 5-30 years | ||||||||
Leasehold interest in property and equipment | Lesser of term of lease or life of asset | ||||||||
Leasehold improvements | Lesser of term of lease or life of asset |
Note_2_Acquisitions_Tables
Note 2 - Acquisitions (Tables) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ||||||||
Assets acquired: | |||||||||
Inventories | $ | 1,622 | |||||||
Property and equipment | 24,469 | ||||||||
Total assets | 26,091 | ||||||||
Liabilities assumed: | |||||||||
Accrued expenses | 122 | ||||||||
Total liabilities | 122 | ||||||||
Net tangible assets acquired | 25,969 | ||||||||
Goodwill | 5,615 | ||||||||
Total consideration paid | $ | 31,584 | |||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||||
Years Ended April 30, | |||||||||
2014 | 2013 | ||||||||
Total revenue | $ | 7,885,634 | $ | 7,362,816 | |||||
Net income | $ | 135,309 | $ | 112,510 | |||||
Net income per common share | |||||||||
Basic | $ | 3.52 | $ | 2.94 | |||||
Diluted | $ | 3.48 | $ | 2.91 |
Note_3_Fair_Value_of_Financial1
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Tables) | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||||||
As of April 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Capitalized lease obligations discounted at 5.22% to 7.09% due in various monthly installments through 2048 (Note 7) | $ | 10,195 | 9,891 | ||||||||||
5.72% Senior notes due in 14 installments beginning September 30, 2012 and ending March 30, 2020 | 75,000 | 90,000 | |||||||||||
5.22% Senior notes due August 9, 2020 | 569,000 | 569,000 | |||||||||||
3.67% Senior notes (Series A) due in 7 installments beginning June 17, 2022, and ending June 15, 2028 | 150,000 | — | |||||||||||
3.75% Senior notes (Series B) due in 7 installments beginning December 17, 2022 and ending December 18, 2028 | 50,000 | — | |||||||||||
854,195 | 668,891 | ||||||||||||
Less current maturities | 553 | 15,810 | |||||||||||
$ | 853,642 | 653,081 | |||||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||||||||
Years ended April 30, | Capital Leases | Senior Notes | Total | ||||||||||
2015 | $ | 553 | — | 553 | |||||||||
2016 | 398 | 15,000 | 15,398 | ||||||||||
2017 | 375 | 15,000 | 15,375 | ||||||||||
2018 | 396 | 15,000 | 15,396 | ||||||||||
2019 | 417 | 15,000 | 15,417 | ||||||||||
Thereafter | 8,056 | 784,000 | 792,056 | ||||||||||
$ | 10,195 | 844,000 | $ | 854,195 |
Note_4_Preferred_and_Common_St1
Note 4 - Preferred and Common Stock (Tables) | 12 Months Ended | |||||||||||||||
Apr. 30, 2014 | ||||||||||||||||
Preferred And Common Stock [Abstract] | ' | |||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||
Number of | Weighted | |||||||||||||||
option shares | average option | |||||||||||||||
exercise price | ||||||||||||||||
Outstanding at April 30, 2011 | 775,109 | $ | 23.38 | |||||||||||||
Granted | 441,000 | 44.39 | ||||||||||||||
Exercised | (159,600 | ) | 20.36 | |||||||||||||
Forfeited | (3,000 | ) | 36.19 | |||||||||||||
Outstanding at April 30, 2012 | 1,053,509 | $ | 32.59 | |||||||||||||
Granted | - | - | ||||||||||||||
Exercised | (198,200 | ) | 23.82 | |||||||||||||
Forfeited | (500 | ) | 14.08 | |||||||||||||
Outstanding at April 30, 2013 | 854,809 | $ | 34.64 | |||||||||||||
Granted | - | - | ||||||||||||||
Exercised | (140,785 | ) | 23.93 | |||||||||||||
Forfeited | (2,000 | ) | 44.39 | |||||||||||||
Outstanding at April 30, 2014 | 712,024 | $ | 36.73 | |||||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | |||||||||||||||
Unvested at April 30, 2011 | 14,000 | |||||||||||||||
Granted | 38,198 | |||||||||||||||
Vested | (14,000 | ) | ||||||||||||||
Forfeited | - | |||||||||||||||
Unvested at April 30, 2012 | 38,198 | |||||||||||||||
Granted | 46,998 | |||||||||||||||
Vested | (14,000 | ) | ||||||||||||||
Forfeited | - | |||||||||||||||
Unvested at April 30, 2013 | 71,196 | |||||||||||||||
Granted | 91,650 | |||||||||||||||
Vested | (14,150 | ) | ||||||||||||||
Forfeited | (150 | ) | ||||||||||||||
Unvested at April 30, 2014 | 148,546 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | ' | |||||||||||||||
Risk-free interest rate | 2.14% | |||||||||||||||
Expected option life (years) | 6.11 | |||||||||||||||
Expected volatility | 37% | |||||||||||||||
Expected dividend yield | 1.58% | |||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | |||||||||||||||
Range of | Number | Weighted average | Weighted average remaining | |||||||||||||
exercise prices | of shares | exercise price | contractual life (years) | |||||||||||||
$ | 17.64 | 6,000 | 17.64 | 1 | ||||||||||||
20.68 – 26.92 | 278,024 | 25.34 | 4.4 | |||||||||||||
44.39 | 428,000 | 44.39 | 7.2 | |||||||||||||
712,024 |
Note_5_Net_Income_Per_Common_S1
Note 5 - Net Income Per Common Share (Tables) | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||
Years ended April 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Basic | |||||||||||||
Net income | $ | 134,514 | $ | 110,625 | $ | 116,791 | |||||||
Weighted average shares outstanding-basic | 38,457,680 | 38,297,083 | 38,068,001 | ||||||||||
Basic earnings per common share | $ | 3.5 | $ | 2.89 | $ | 3.07 | |||||||
Diluted | |||||||||||||
Net income | $ | 134,514 | $ | 110,625 | $ | 116,791 | |||||||
Weighted-average shares outstanding-basic | 38,457,680 | 38,297,083 | 38,068,001 | ||||||||||
Plus effect of stock options and restricted stock units | 410,726 | 322,993 | 323,703 | ||||||||||
Weighted-average shares outstanding-diluted | 38,868,406 | 38,620,076 | 38,391,704 | ||||||||||
Diluted earnings per common share | $ | 3.46 | $ | 2.86 | $ | 3.04 |
Note_6_Income_Taxes_Tables
Note 6 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Apr. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
Years ended April 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current tax expense | |||||||||||||
Federal | $ | 44,078 | $ | 23,519 | $ | 9,937 | |||||||
State | 5,657 | 4,455 | 2,345 | ||||||||||
49,735 | 27,974 | 12,282 | |||||||||||
Deferred tax expense | 22,283 | 36,530 | 54,442 | ||||||||||
Total income tax provision | $ | 72,018 | $ | 64,504 | $ | 66,724 | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
As of April 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets | |||||||||||||
Accrued liabilities | $ | 11,878 | $ | 9,916 | |||||||||
Deferred compensation | 6,272 | 6,050 | |||||||||||
Equity compensation | 3,598 | 916 | |||||||||||
Unrecognized tax benefits | 3,113 | 3,128 | |||||||||||
State net operating losses and tax credits | 2,892 | 3,902 | |||||||||||
Other | 124 | 100 | |||||||||||
Total gross deferred tax assets | 27,877 | 24,012 | |||||||||||
Less valuation allowance | (91 | ) | — | ||||||||||
Total net deferred tax assets | 27,786 | 24,012 | |||||||||||
Deferred tax liabilities | |||||||||||||
Property and equipment depreciation | (318,565 | ) | (295,951 | ) | |||||||||
Goodwill | (14,989 | ) | (11,919 | ) | |||||||||
Other | (307 | ) | 66 | ||||||||||
Total gross deferred tax liabilities | (333,861 | ) | (307,804 | ) | |||||||||
Net deferred tax liability | $ | (306,075 | ) | $ | (283,792 | ) | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
Years ended April 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income taxes at the statutory rates | 35.00% | 35.00% | 35.00% | ||||||||||
Federal tax credits | -1.9 | -1.7 | -2.1 | ||||||||||
State income taxes, net of federal tax benefit | 3.3 | 2.6 | 2.9 | ||||||||||
Out of period adjustments | -1.3 | — | — | ||||||||||
Other | -0.2 | 0.9 | 0.6 | ||||||||||
34.90% | 36.80% | 36.40% | |||||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | ||||||||||||
2014 | 2013 | ||||||||||||
Beginning balance | $ | 8,938 | $ | 7,538 | |||||||||
Additions based on tax positions related to current year | 1,229 | 2,807 | |||||||||||
Additions for tax positions of prior years | 415 | — | |||||||||||
Reductions for tax positions of prior years | — | (37 | ) | ||||||||||
Reductions due to lapse of applicable statute of limitations | (1,338 | ) | (1,370 | ) | |||||||||
Settlements | — | — | |||||||||||
Ending balance | $ | 9,244 | $ | 8,938 |
Note_7_Leases_Tables
Note 7 - Leases (Tables) | 12 Months Ended | ||||||||
Apr. 30, 2014 | |||||||||
Leases [Abstract] | ' | ||||||||
Schedule of Capital Leased Assets [Table Text Block] | ' | ||||||||
Asset balances at April 30, | |||||||||
2014 | 2013 | ||||||||
Real estate | $ | 13,668 | $ | 12,874 | |||||
Equipment | 2,610 | 2,612 | |||||||
16,278 | 15,486 | ||||||||
Less accumulated amortization | 5,202 | 4,900 | |||||||
$ | 11,076 | $ | 10,586 | ||||||
Schedule Of Future Minimum Payments For Capital Leases And Noncancelable Operating Leases [Table Text Block] | ' | ||||||||
Years ended April 30, | Capital | Operating | |||||||
leases | leases | ||||||||
2015 | $ | 1,078 | $ | 872 | |||||
2016 | 904 | 630 | |||||||
2017 | 868 | 547 | |||||||
2018 | 870 | 539 | |||||||
2019 | 876 | 378 | |||||||
Thereafter | 12,875 | 261 | |||||||
Total minimum lease payments | 17,471 | $ | 3,227 | ||||||
Less amount representing interest | 7,276 | ||||||||
Present value of net minimum lease payments | $ | 10,195 |
Note_12_Quaterly_Financial_Dat1
Note 12 - Quaterly Financial Data (Tables) | 12 Months Ended | ||||||||||||||||||||
Apr. 30, 2014 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||||||
Year ended April 30, 2014 | |||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Year Total | |||||||||||||||||
Total revenue | |||||||||||||||||||||
Fuel | $ | 1,514,874 | 1,416,980 | 1,255,774 | 1,366,952 | 5,554,580 | |||||||||||||||
Grocery & other merchandise | 423,585 | 416,552 | 364,846 | 378,251 | 1,583,234 | ||||||||||||||||
Prepared food & fountain | 166,248 | 171,751 | 158,200 | 162,977 | 659,176 | ||||||||||||||||
Other | 10,042 | 10,602 | 11,235 | 11,386 | 43,265 | ||||||||||||||||
$ | 2,114,749 | 2,015,885 | 1,790,055 | 1,919,566 | 7,840,255 | ||||||||||||||||
Gross profit* | |||||||||||||||||||||
Fuel | $ | 94,316 | 70,832 | 59,075 | 55,892 | 280,115 | |||||||||||||||
Grocery & other merchandise | 138,412 | 134,708 | 113,429 | 121,387 | 507,936 | ||||||||||||||||
Prepared food & fountain | 102,754 | 106,171 | 96,147 | 97,924 | 402,996 | ||||||||||||||||
Other | 10,028 | 10,590 | 11,222 | 11,372 | 43,212 | ||||||||||||||||
$ | 345,510 | 322,301 | 279,873 | 286,575 | 1,234,259 | ||||||||||||||||
Net income | $ | 55,710 | 41,319 | 14,669 | 22,816 | 134,514 | |||||||||||||||
Income per common share | |||||||||||||||||||||
Basic | $ | 1.45 | 1.07 | 0.38 | 0.59 | 3.5 | |||||||||||||||
Diluted | $ | 1.43 | 1.06 | 0.38 | 0.59 | 3.46 | |||||||||||||||
Year ended April 30, 2013 | |||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Year Total | |||||||||||||||||
Total revenue | |||||||||||||||||||||
Fuel | $ | 1,330,670 | 1,393,476 | 1,185,640 | 1,319,371 | 5,229,157 | |||||||||||||||
Grocery & other merchandise | 386,129 | 362,662 | 329,657 | 340,263 | 1,418,711 | ||||||||||||||||
Prepared food & fountain | 142,709 | 146,540 | 137,033 | 138,642 | 564,924 | ||||||||||||||||
Other | 8,794 | 8,966 | 10,035 | 10,253 | 38,048 | ||||||||||||||||
$ | 1,868,302 | 1,911,644 | 1,662,365 | 1,808,529 | 7,250,840 | ||||||||||||||||
Gross profit* | |||||||||||||||||||||
Fuel | $ | 58,795 | 57,634 | 52,002 | 64,287 | 232,718 | |||||||||||||||
Grocery & other merchandise | 128,834 | 121,206 | 104,660 | 107,963 | 462,663 | ||||||||||||||||
Prepared food & fountain | 90,565 | 91,515 | 83,011 | 83,902 | 348,993 | ||||||||||||||||
Other | 8,780 | 8,958 | 10,013 | 10,240 | 37,991 | ||||||||||||||||
$ | 286,974 | 279,313 | 249,686 | 266,392 | 1,082,365 | ||||||||||||||||
Net income | $ | 39,031 | 32,859 | 15,463 | 23,272 | 110,625 | |||||||||||||||
Income per common share | |||||||||||||||||||||
Basic | $ | 1.02 | 0.86 | 0.4 | 0.61 | 2.89 | |||||||||||||||
Diluted | $ | 1.01 | 0.85 | 0.4 | 0.6 | 2.86 |
Note_1_Significant_Accounting_2
Note 1 - Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Note 1 - Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Number of Stores | 1,808 | ' | ' |
Number of States in which Entity Operates | 14 | ' | ' |
Population Of Communities | 5,000 | ' | ' |
Excess of Replacement or Current Costs over Stated LIFO Value | $48,777 | $44,792 | ' |
Goodwill | 120,406 | 114,791 | ' |
Asset Impairment Charges | 2,542 | 3,680 | 226 |
Excise Taxes Collected | 646,000 | 596,000 | 527,000 |
Asset Retirement Obligation in Other Assets Net of Amortization | 8,391 | 8,011 | ' |
Asset Retirement Obligation, Liabilities Incurred | 12,854 | 12,176 | ' |
Self Insurance Reserve | $28,429 | $24,039 | ' |
Number of Operating Segments | 1 | ' | ' |
Number of Reportable Segments | 1 | ' | ' |
Gasoline [Member] | Sales Revenue, Goods, Net [Member] | ' | ' | ' |
Note 1 - Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 71.00% | ' | ' |
Grocery and Other Merchandise [Member] | Sales Revenue, Goods, Net [Member] | ' | ' | ' |
Note 1 - Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 20.00% | ' | ' |
Prepared Food and Fountain [Member] | Sales Revenue, Goods, Net [Member] | ' | ' | ' |
Note 1 - Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 9.00% | ' | ' |
Note_1_Significant_Accounting_3
Note 1 - Significant Accounting Policies (Details) - Summary of Inventory (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Inventory [Line Items] | ' | ' |
Inventory | $204,833 | $189,514 |
Gasoline [Member] | ' | ' |
Inventory [Line Items] | ' | ' |
Inventory | 95,004 | 87,262 |
Merchandise [Member] | ' | ' |
Inventory [Line Items] | ' | ' |
Inventory | $109,829 | $102,252 |
Note_1_Significant_Accounting_4
Note 1 - Significant Accounting Policies (Details) - Depreciation of Property, Plant and Equipment | 12 Months Ended |
Apr. 30, 2014 | |
Building [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment useful life | '25 years |
Building [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment useful life | '40 years |
Machinery and Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment useful life | '5 years |
Machinery and Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment useful life | '30 years |
Leasehold Interest In Property And Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Leasehold and leasehold improvements useful life | 'Lesser of term of lease or life of asset |
Leasehold Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Leasehold and leasehold improvements useful life | 'Lesser of term of lease or life of asset |
Note_2_Acquisitions_Details
Note 2 - Acquisitions (Details) | 12 Months Ended |
Apr. 30, 2014 | |
Note 2 - Acquisitions (Details) [Line Items] | ' |
Number Of Stores Opened | 25 |
Number Of Stores Closed | 1 |
Number Of Stores Expected To Open In Next Fiscal Year | 2 |
Goodwill Deductible for Income Tax Purposes Period | '15 years |
Stores [Member] | ' |
Note 2 - Acquisitions (Details) [Line Items] | ' |
Number of Businesses Acquired | 28 |
Note_2_Acquisitions_Details_Al
Note 2 - Acquisitions (Details) - Allocation of the Purchase Price for Acquisitions (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Note 2 - Acquisitions (Details) - Allocation of the Purchase Price for Acquisitions [Line Items] | ' | ' | ' |
Goodwill | $120,406 | $114,791 | ' |
Total consideration paid | 31,584 | 29,527 | 39,444 |
In Fiscal Year 2014 [Member] | ' | ' | ' |
Note 2 - Acquisitions (Details) - Allocation of the Purchase Price for Acquisitions [Line Items] | ' | ' | ' |
Inventories | 1,622 | ' | ' |
Property and equipment | 24,469 | ' | ' |
Total assets | 26,091 | ' | ' |
Accrued expenses | 122 | ' | ' |
Total liabilities | 122 | ' | ' |
Net tangible assets acquired | 25,969 | ' | ' |
Goodwill | 5,615 | ' | ' |
Total consideration paid | $31,584 | ' | ' |
Note_2_Acquisitions_Details_Un
Note 2 - Acquisitions (Details) - Unaudited Pro Forma Information (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 |
Unaudited Pro Forma Information [Abstract] | ' | ' |
Total revenue | $7,885,634 | $7,362,816 |
Net income | $135,309 | $112,510 |
Net income per common share | ' | ' |
Basic | $3.52 | $2.94 |
Diluted | $3.48 | $2.91 |
Note_3_Fair_Value_of_Financial2
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||
Dec. 17, 2013 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) [Line Items] | ' | ' | ' | ' |
Long-term Debt, Fair Value | ' | $841,000,000 | $721,000,000 | ' |
Number Of Notes | ' | 2 | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | 100,000,000 | ' |
Line of Credit Facility, Decrease, Forgiveness | 25,000 | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | 0 | ' | ' |
Interest Income (Expense), Net | ' | 214,000 | 211,000 | 208,000 |
Interest Costs Capitalized | ' | 1,177,000 | 894,000 | 674,000 |
Note1 And Note 2 [Member] | ' | ' | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) [Line Items] | ' | ' | ' | ' |
Debt Instrument Carrying Amount Of Each Note | ' | 50,000,000 | ' | ' |
Note 1 [Member] | ' | ' | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) [Line Items] | ' | ' | ' | ' |
Interest Over Index | ' | 0.75% | ' | ' |
Note 2 [Member] | ' | ' | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) [Line Items] | ' | ' | ' | ' |
Interest Over Index | ' | 1.00% | ' | ' |
Note 3 [Member] | ' | ' | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) [Line Items] | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | $59,100,000 | ' |
Note_3_Fair_Value_of_Financial3
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount [Line Items] | ' | ' |
Senior Notes | $854,195 | $668,891 |
Less current maturities | 553 | 15,810 |
853,642 | 653,081 | |
Capital Lease Obligations [Member] | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount [Line Items] | ' | ' |
Capitalized lease obligations discounted at 5.22% to 7.09% due in various monthly installments through 2048 (Note 7) | 10,195 | 9,891 |
Senior Notes 5.72% [Member] | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount [Line Items] | ' | ' |
Senior Notes | 75,000 | 90,000 |
Senior Notes 5.22% [Member] | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount [Line Items] | ' | ' |
Senior Notes | 569,000 | 569,000 |
Senior Notes Series A, 3.67% [Member] | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount [Line Items] | ' | ' |
Senior Notes | 150,000 | ' |
Senior Notes Series B, 3.75% [Member] | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount [Line Items] | ' | ' |
Senior Notes | $50,000 | ' |
Note_3_Fair_Value_of_Financial4
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount (Parentheticals) | 12 Months Ended | |
Apr. 30, 2014 | Apr. 30, 2013 | |
Senior Notes 5.72% [Member] | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount (Parentheticals) [Line Items] | ' | ' |
Stated Interest Rate | 5.72% | 5.72% |
Senior Notes 5.22% [Member] | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount (Parentheticals) [Line Items] | ' | ' |
Stated Interest Rate | 5.22% | 5.22% |
Senior Notes Series A, 3.67% [Member] | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount (Parentheticals) [Line Items] | ' | ' |
Stated Interest Rate | 3.67% | ' |
Senior Notes Series B, 3.75% [Member] | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount (Parentheticals) [Line Items] | ' | ' |
Stated Interest Rate | 3.75% | ' |
Minimum [Member] | Capital Lease Obligations [Member] | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount (Parentheticals) [Line Items] | ' | ' |
Discount Rate Of Capitalized Lease Obligations | 5.22% | 5.22% |
Maximum [Member] | Capital Lease Obligations [Member] | ' | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Long-term Debt at Carrying Amount (Parentheticals) [Line Items] | ' | ' |
Discount Rate Of Capitalized Lease Obligations | 7.09% | 7.09% |
Note_3_Fair_Value_of_Financial5
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Aggregate Maturities of Long-term Debt (USD $) | Apr. 30, 2014 |
In Thousands, unless otherwise specified | |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Aggregate Maturities of Long-term Debt [Line Items] | ' |
2015 | $553 |
2016 | 15,398 |
2017 | 15,375 |
2018 | 15,396 |
2019 | 15,417 |
Thereafter | 792,056 |
854,195 | |
Capital Lease Obligations [Member] | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Aggregate Maturities of Long-term Debt [Line Items] | ' |
2015 | 553 |
2016 | 398 |
2017 | 375 |
2018 | 396 |
2019 | 417 |
Thereafter | 8,056 |
10,195 | |
Senior Notes [Member] | ' |
Note 3 - Fair Value of Financial Instruments and Long Term Debt (Details) - Aggregate Maturities of Long-term Debt [Line Items] | ' |
2016 | 15,000 |
2017 | 15,000 |
2018 | 15,000 |
2019 | 15,000 |
Thereafter | 784,000 |
$844,000 |
Note_4_Preferred_and_Common_St2
Note 4 - Preferred and Common Stock (Details) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 24 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, except Share data, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Jun. 08, 2012 | Jun. 10, 2011 | Jun. 19, 2013 | Jun. 07, 2013 | Jun. 19, 2013 | Jun. 23, 2011 | Sep. 16, 2011 | Sep. 13, 2013 | Sep. 14, 2012 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Jun. 23, 2011 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Jun. 23, 2011 | Apr. 30, 2014 | Apr. 30, 2014 |
Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Stock Options [Member] | Restricted Stock Units (RSUs) [Member] | Series A Preferred Stock [Member] | Stock Options [Member] | Stock Options [Member] | 2009 Stock Incentive Plan [Member] | Director Stock Plan [Member] | Certain Officer And Key Employee [Member] | Minimum [Member] | Maximum [Member] | ||||
Certain Employee [Member] | Certain Employee [Member] | Certain Officer And Key Employee [Member] | Certain Officer And Key Employee [Member] | Certain Officer And Key Employee [Member] | Chief Executive Officer [Member] | Non-Employee [Member] | Non Employee Members Of The Board [Member] | Non Employee Members Of The Board [Member] | ||||||||||||||
Note 4 - Preferred and Common Stock (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Authorized | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Issued | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares Authorized | 120,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,153,608 | 200,000 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 712,024 | 712,024 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | ' | ' | ' | 32,998 | 9,198 | 77,650 | 76,150 | 1,500 | 15,000 | 14,000 | 14,000 | 14,000 | ' | ' | ' | ' | ' | ' | ' | 441,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | ' | ' | ' | $59.48 | $40.49 | ' | $62.26 | $60.47 | $44.39 | $47.59 | $71.02 | $58.93 | ' | ' | ' | $14.65 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '5 years |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value (in Dollars) | $22,737 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '6 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 284,024 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in Dollars per share) | $25.18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | '4 years 146 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value (in Dollars) | 12,349 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars) | 2,952 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation (in Dollars) | 5,600 | 4,270 | 3,792 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $325 | $4,036 | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $17.64 | ' | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $44.39 | ' | ' | ' | ' | ' |
Note_4_Preferred_and_Common_St3
Note 4 - Preferred and Common Stock (Details) - Stock Option Activity (USD $) | 12 Months Ended | |||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2011 | |
Note 4 - Preferred and Common Stock (Details) - Stock Option Activity [Line Items] | ' | ' | ' | ' |
Outstanding- Number of option shares | 712,024 | 712,024 | ' | ' |
Exercised- Number of option shares | -140,785,000 | -198,200,000 | -159,600,000 | ' |
Employee Stock Option [Member] | ' | ' | ' | ' |
Note 4 - Preferred and Common Stock (Details) - Stock Option Activity [Line Items] | ' | ' | ' | ' |
Outstanding- Number of option shares | 712,024 | 854,809 | 1,053,509 | 775,109 |
Outstanding- Weighted average option exercise price | $36.73 | $34.64 | $32.59 | $23.38 |
Granted- Number of option shares | ' | ' | 441,000 | ' |
Granted- Weighted average option exercise price | ' | ' | $44.39 | ' |
Exercised- Number of option shares | -140,785 | -198,200 | -159,600 | ' |
Exercised- Weighted average option exercise price | $23.93 | $23.82 | $20.36 | ' |
Forfeited- Number of option shares | -2,000 | -500 | -3,000 | ' |
Forfeited- Weighted average option exercise price | $44.39 | $14.08 | $36.19 | ' |
Note_4_Preferred_and_Common_St4
Note 4 - Preferred and Common Stock (Details) - Restricted Stock Units Activity (Restricted Stock Units (RSUs) [Member]) | 12 Months Ended | ||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Note 4 - Preferred and Common Stock (Details) - Restricted Stock Units Activity [Line Items] | ' | ' | ' |
Unvested at April 30 | 71,196 | 38,198 | 14,000 |
Granted | 91,650 | 46,998 | 38,198 |
Vested | -14,150 | -14,000 | -14,000 |
Forfeited | -150 | ' | ' |
Unvested at April 30 | 148,546 | 71,196 | 38,198 |
Note_4_Preferred_and_Common_St5
Note 4 - Preferred and Common Stock (Details) - Grant Date Fair of Option, Significant Assumptions | 12 Months Ended |
Apr. 30, 2014 | |
Grant Date Fair of Option, Significant Assumptions [Abstract] | ' |
Risk-free interest rate | 2.14% |
Expected option life (years) | '6 years 40 days |
Expected volatility | 37.00% |
Expected dividend yield | 1.58% |
Note_4_Preferred_and_Common_St6
Note 4 - Preferred and Common Stock (Details) - Range of Exercise Prices and Weighted Average Remaining Contractual Life of Outstanding Options (USD $) | 12 Months Ended | |
Apr. 30, 2014 | Apr. 30, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Number of shares (in Shares) | 712,024 | 712,024 |
Weighted average remaining contractual life (years) | '6 years | ' |
Range 17.64 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of exercise prices | 17.64 | ' |
Number of shares (in Shares) | 6,000 | ' |
Weighted average exercise price | 17.64 | ' |
Weighted average remaining contractual life (years) | '1 year | ' |
Range 20.68 - 26.92 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of exercise prices -Minimum | 20.68 | ' |
Range of exercise prices -Maximum | 26.92 | ' |
Number of shares (in Shares) | 278,024 | ' |
Weighted average exercise price | 25.34 | ' |
Weighted average remaining contractual life (years) | '4 years 146 days | ' |
Range 44.39 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of exercise prices | 44.39 | ' |
Number of shares (in Shares) | 428,000 | ' |
Weighted average exercise price | 44.39 | ' |
Weighted average remaining contractual life (years) | '7 years 73 days | ' |
Note_5_Net_Income_Per_Common_S2
Note 5 - Net Income Per Common Share (Details) | 12 Months Ended |
Apr. 30, 2012 | |
Earnings Per Share [Abstract] | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 439,000 |
Note_5_Net_Income_Per_Common_S3
Note 5 - Net Income Per Common Share (Details) - Earnings Per Share, Basic and Diluted (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (in Dollars) | $22,816 | $14,669 | $41,319 | $55,710 | $23,272 | $15,463 | $32,859 | $39,031 | $134,514 | $110,625 | $116,791 |
Weighted average shares outstanding-basic | ' | ' | ' | ' | ' | ' | ' | ' | 38,457,680 | 38,297,083 | 38,068,001 |
Plus effect of stock options and restricted stock units | ' | ' | ' | ' | ' | ' | ' | ' | 410,726 | 322,993 | 323,703 |
Weighted-average shares outstanding-diluted | ' | ' | ' | ' | ' | ' | ' | ' | 38,868,406 | 38,620,076 | 38,391,704 |
Diluted earnings per common share (in Dollars per share) | $0.59 | $0.38 | $1.06 | $1.43 | $0.60 | $0.40 | $0.85 | $1.01 | $3.46 | $2.86 | $3.04 |
Basic earnings per common share (in Dollars per share) | $0.59 | $0.38 | $1.07 | $1.45 | $0.61 | $0.40 | $0.86 | $1.02 | $3.50 | $2.89 | $3.07 |
Note_6_Income_Taxes_Details
Note 6 - Income Taxes (Details) (USD $) | 12 Months Ended | ||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | |
Note 6 - Income Taxes (Details) [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | $74,670,000 | ' | ' |
Deferred Tax Assets, Valuation Allowance | 91,000 | 0 | ' |
Valuation Allowance, Deferred Tax Asset, Change in Amount | 91,000 | 0 | ' |
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount | 2,760 | ' | ' |
Unrecognized Tax Benefits | 9,244,000 | 8,938,000 | 7,538,000 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 6,131,000 | ' | ' |
Unrecognized Tax Benefits, Period Increase (Decrease) | 306,000 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 402,000 | 286,000 | ' |
Income Tax Examination, Penalties and Interest Expense | 116,000 | 37,000 | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Lower Bound | 2,661,000 | ' | ' |
2010 and Forward (Member) | ' | ' | ' |
Note 6 - Income Taxes (Details) [Line Items] | ' | ' | ' |
Statute of Limitations for Federal Tax Years Open | '2010 and forward | ' | ' |
2009 and Forward [Member] | ' | ' | ' |
Note 6 - Income Taxes (Details) [Line Items] | ' | ' | ' |
Statute of Limitations for Federal Tax Years Open | '2009 and forward | ' | ' |
State Alternative Minimum Tax Credit Carryforwards [Member] | ' | ' | ' |
Note 6 - Income Taxes (Details) [Line Items] | ' | ' | ' |
Tax Credit Carryforward, Amount | $129,000 | ' | ' |
Note_6_Income_Taxes_Details_Co
Note 6 - Income Taxes (Details) - Components of Income Tax Expense Attributable to Earnings (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Components of Income Tax Expense Attributable to Earnings [Abstract] | ' | ' | ' |
Federal | $44,078 | $23,519 | $9,937 |
State | 5,657 | 4,455 | 2,345 |
49,735 | 27,974 | 12,282 | |
Deferred tax expense | 22,283 | 36,530 | 54,442 |
Total income tax provision | $72,018 | $64,504 | $66,724 |
Note_6_Income_Taxes_Details_De
Note 6 - Income Taxes (Details) - Deferred Tax Assets and Liabilities (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
Deferred tax assets | ' | ' |
Accrued liabilities | $11,878,000 | $9,916,000 |
Deferred compensation | 6,272,000 | 6,050,000 |
Equity compensation | 3,598,000 | 916,000 |
Unrecognized tax benefits | 3,113,000 | 3,128,000 |
State net operating losses and tax credits | 2,892,000 | 3,902,000 |
Other | 124,000 | 100,000 |
Total gross deferred tax assets | 27,877,000 | 24,012,000 |
Less valuation allowance | -91,000 | 0 |
Total net deferred tax assets | 27,786,000 | 24,012,000 |
Deferred tax liabilities | ' | ' |
Property and equipment depreciation | -318,565,000 | -295,951,000 |
Goodwill | -14,989,000 | -11,919,000 |
Other | -307,000 | 66,000 |
Total gross deferred tax liabilities | -333,861,000 | -307,804,000 |
Net deferred tax liability | ($306,075,000) | ($283,792,000) |
Note_6_Income_Taxes_Details_Ef
Note 6 - Income Taxes (Details) - Effective Income Tax Rate Reconciliation | 12 Months Ended | ||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | |
Effective Income Tax Rate Reconciliation [Abstract] | ' | ' | ' |
Income taxes at the statutory rates | 35.00% | 35.00% | 35.00% |
Federal tax credits | -1.90% | -1.70% | -2.10% |
State income taxes, net of federal tax benefit | 3.30% | 2.60% | 2.90% |
Out of period adjustments | -1.30% | ' | ' |
Other | -0.20% | 0.90% | 0.60% |
34.90% | 36.80% | 36.40% |
Note_6_Income_Taxes_Details_Re
Note 6 - Income Taxes (Details) - Reconciliation of Unrecognized Tax Benefits (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 |
Reconciliation of Unrecognized Tax Benefits [Abstract] | ' | ' |
Beginning balance | $8,938 | $7,538 |
Additions based on tax positions related to current year | 1,229 | 2,807 |
Additions for tax positions of prior years | 415 | ' |
Reductions for tax positions of prior years | ' | -37 |
Reductions due to lapse of applicable statute of limitations | -1,338 | -1,370 |
Ending balance | $9,244 | $8,938 |
Note_7_Leases_Details
Note 7 - Leases (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Leases [Abstract] | ' | ' | ' |
Operating Leases, Rent Expense, Net | $1,424 | $1,773 | $1,269 |
Note_7_Leases_Details_Leased_P
Note 7 - Leases (Details) - Leased Property Under Capital Leases By Major Classes (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
In Thousands, unless otherwise specified | ||
Capital Leased Assets [Line Items] | ' | ' |
Capital Leased assets,gross | $16,278 | $15,486 |
Less accumulated amortization | 5,202 | 4,900 |
11,076 | 10,586 | |
Real Estate1 [Member] | ' | ' |
Capital Leased Assets [Line Items] | ' | ' |
Capital Leased assets,gross | 13,668 | 12,874 |
Equipment [Member] | ' | ' |
Capital Leased Assets [Line Items] | ' | ' |
Capital Leased assets,gross | $2,610 | $2,612 |
Note_7_Leases_Details_Future_M
Note 7 - Leases (Details) - Future Minimum Payments for Capital Leases And Noncancelable Operating Leases (USD $) | Apr. 30, 2014 |
In Thousands, unless otherwise specified | |
Future Minimum Payments for Capital Leases And Noncancelable Operating Leases [Abstract] | ' |
2015 | $1,078 |
2015 | 872 |
2016 | 904 |
2016 | 630 |
2017 | 868 |
2017 | 547 |
2018 | 870 |
2018 | 539 |
2019 | 876 |
2019 | 378 |
Thereafter | 12,875 |
Thereafter | 261 |
Total minimum lease payments | 17,471 |
Total minimum lease payments | 3,227 |
Less amount representing interest | 7,276 |
Present value of net minimum lease payments | $10,195 |
Note_8_Benefit_Plans_Details
Note 8 - Benefit Plans (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 |
Note 8 - Benefit Plans (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $5,348 | $4,949 | $3,681 |
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | 1,488,510 | 1,496,465 | ' |
Deferred Compensation Liability, Current | 5,925 | 6,457 | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.40% | 4.00% | ' |
Pension and Other Postretirement Benefit Expense | 93 | 471 | 662 |
Expected Retirement Benefit Expense For Next Five Years | 625 | ' | ' |
Other Postretirement Benefit Plan, Defined Benefit [Member] | ' | ' | ' |
Note 8 - Benefit Plans (Details) [Line Items] | ' | ' | ' |
Deferred Compensation Liability, Current and Noncurrent | 3,950 | 4,016 | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 167 | ' | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 497 | ' | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 497 | ' | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 497 | ' | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 441 | ' | ' |
Deferred Compensation Arrangement with Individual, Compensation Expense | $156 | $438 | $563 |
Note_9_Commitments_Details
Note 9 - Commitments (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Apr. 30, 2014 |
Disclosure Text Block Supplement [Abstract] | ' |
CompensationCommitment | $660 |
Note_10_Contingencies_Details
Note 10 - Contingencies (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2014 | Apr. 30, 2013 |
Loss Contingency [Abstract] | ' | ' |
Other Accrued Liabilities | $300 | $418 |
Annual Stop Loss Limit | 1,000 | ' |
Letters of Credit Outstanding, Amount | 15,000 | 15,500 |
Investments In Escrow For Insurance | 223 | ' |
Accrued Expenses For Estimated Claims Relating To Self Insurance | $28,429 | $24,039 |
Note_12_Quaterly_Financial_Dat2
Note 12 - Quaterly Financial Data (Details) - Quaterly Financial Data (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | ||||||||||
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | $1,919,566 | $1,790,055 | $2,015,885 | $2,114,749 | $1,808,529 | $1,662,365 | $1,911,644 | $1,868,302 | $7,840,255 | $7,250,840 | $6,987,804 | ||||||||||
Gross profit* | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Gross profit | 286,575 | [1] | 279,873 | [1] | 322,301 | [1] | 345,510 | [1] | 266,392 | [1] | 249,686 | [1] | 279,313 | [1] | 286,974 | [1] | 1,234,259 | [1] | 1,082,365 | [1] | 1,003,690 |
Net income | 22,816 | 14,669 | 41,319 | 55,710 | 23,272 | 15,463 | 32,859 | 39,031 | 134,514 | 110,625 | 116,791 | ||||||||||
Income per common share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Basic (in Dollars per share) | $0.59 | $0.38 | $1.07 | $1.45 | $0.61 | $0.40 | $0.86 | $1.02 | $3.50 | $2.89 | $3.07 | ||||||||||
Diluted (in Dollars per share) | $0.59 | $0.38 | $1.06 | $1.43 | $0.60 | $0.40 | $0.85 | $1.01 | $3.46 | $2.86 | $3.04 | ||||||||||
Gasoline [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | 1,366,952 | 1,255,774 | 1,416,980 | 1,514,874 | 1,319,371 | 1,185,640 | 1,393,476 | 1,330,670 | 5,554,580 | 5,229,157 | ' | ||||||||||
Gross profit* | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Gross profit | 55,892 | [1] | 59,075 | [1] | 70,832 | [1] | 94,316 | [1] | 64,287 | [1] | 52,002 | [1] | 57,634 | [1] | 58,795 | [1] | 280,115 | [1] | 232,718 | [1] | ' |
Grocery and Other Merchandise [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | 378,251 | 364,846 | 416,552 | 423,585 | 340,263 | 329,657 | 362,662 | 386,129 | 1,583,234 | 1,418,711 | ' | ||||||||||
Gross profit* | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Gross profit | 121,387 | [1] | 113,429 | [1] | 134,708 | [1] | 138,412 | [1] | 107,963 | [1] | 104,660 | [1] | 121,206 | [1] | 128,834 | [1] | 507,936 | [1] | 462,663 | [1] | ' |
Prepared Food and Fountain [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | 162,977 | 158,200 | 171,751 | 166,248 | 138,642 | 137,033 | 146,540 | 142,709 | 659,176 | 564,924 | ' | ||||||||||
Gross profit* | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Gross profit | 97,924 | [1] | 96,147 | [1] | 106,171 | [1] | 102,754 | [1] | 83,902 | [1] | 83,011 | [1] | 91,515 | [1] | 90,565 | [1] | 402,996 | [1] | 348,993 | [1] | ' |
Other Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | 11,386 | 11,235 | 10,602 | 10,042 | 10,253 | 10,035 | 8,966 | 8,794 | 43,265 | 38,048 | ' | ||||||||||
Gross profit* | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Gross profit | $11,372 | [1] | $11,222 | [1] | $10,590 | [1] | $10,028 | [1] | $10,240 | [1] | $10,013 | [1] | $8,958 | [1] | $8,780 | [1] | $43,212 | [1] | $37,991 | [1] | ' |
[1] | Gross profit is given before charge for depreciation and amortization and credit card fees. |