v3.26.1
Leases
 12 Months Ended
Apr. 30, 2026
Leases [Abstract]  
Leases LEASES
The Company records operating lease liabilities within its own financial statement caption, broken out between current and long-term, and records finance lease liabilities within current maturities of long-term debt and finance lease obligations and long-term debt and finance lease obligations on the consolidated balance sheets. All lessor related activity is considered immaterial to the consolidated financial statements.
Lease right-of-use assets outstanding as of April 30, 2026 and 2025 consisted of the following:
Years ended April 30,
Classification20262025
Finance lease right-of-use assetsNet property and equipment$96,310 $89,909 
Operating lease right-of-use assetsOperating lease right-of-use assets, net432,640 417,046 
The summary of lease-related costs included on the consolidated statements of income is included below:
Years ended April 30,
202620252024
Operating lease cost$41,842 $26,309 $10,174 
Finance lease cost:
Amortization of right-of-use assets$11,739 $10,275 $10,417 
Interest expense on lease liabilities5,213 4,969 4,491 
The summary of cash paid for amounts included in the measurement of liabilities included on the consolidated statements of cash flows and supplementary cash flow information are included below:
Years ended April 30,
202620252024
Operating cash flows required by operating leases$40,869 $28,992 $8,693 
Operating cash flows required by finance leases5,213 4,969 4,491 
Financing cash flows required by finance leases10,416 9,367 9,156 
Right-of-use assets obtained in exchange for new finance lease liabilities$20,980 $16,715 $17,626 
Right-of-use assets obtained in exchange for new operating lease liabilities43,564 316,762 14,646 
Weighted average remaining lease terms and weighted average discount rates on outstanding leases were as follows:
April 30,
20262025
Weighted-average remaining lease-term - finance lease14.715.5
Weighted-average remaining lease-term - operating lease19.719.8
Weighted-average discount rate - finance lease4.89 %4.92 %
Weighted-average discount rate - operating lease5.95 %5.89 %
Future minimum payments under the finance leases and operating leases consisted of the following at April 30, 2026:
Years ended April 30,Finance leasesOperating leases
2027$15,124 $38,175 
202815,713 40,012 
202914,685 40,053 
203013,118 40,271 
20317,410 40,324 
Thereafter100,031 622,058 
Total minimum lease payments$166,081 $820,893 
Less amount representing interest50,884 347,412 
Present value of net minimum lease payments$115,197 $473,481 
In fiscal year 2020, Casey’s Marketing Company, and the City of Joplin, Missouri (“Joplin”) entered into an agreement in which Joplin agreed to issue up to $51,400 of taxable industrial development revenue bonds for the purpose of acquiring, constructing, improving, purchasing, equipping and installing a warehouse and distribution facility, which has been completed and is currently being used by the Company. As the title of the development was transferred to Joplin and the Company is subsequently leasing the related asset from Joplin, we have accounted for the transaction under the sale-and-leaseback guidance. We have a purchase option included in the lease agreement for below the fair value of the asset, which prevents the transfer of the assets to Joplin from being recognized as a sale. Accordingly, we have not recognized any gain or loss related to the transfer. Furthermore, we have not derecognized the transferred assets and continue to recognize them in property and equipment on the consolidated balance sheets. The Company has the right and intends to set-off any obligations to make payments under the lease, with proceeds due from the industrial revenue bonds.
Leases LEASES
The Company records operating lease liabilities within its own financial statement caption, broken out between current and long-term, and records finance lease liabilities within current maturities of long-term debt and finance lease obligations and long-term debt and finance lease obligations on the consolidated balance sheets. All lessor related activity is considered immaterial to the consolidated financial statements.
Lease right-of-use assets outstanding as of April 30, 2026 and 2025 consisted of the following:
Years ended April 30,
Classification20262025
Finance lease right-of-use assetsNet property and equipment$96,310 $89,909 
Operating lease right-of-use assetsOperating lease right-of-use assets, net432,640 417,046 
The summary of lease-related costs included on the consolidated statements of income is included below:
Years ended April 30,
202620252024
Operating lease cost$41,842 $26,309 $10,174 
Finance lease cost:
Amortization of right-of-use assets$11,739 $10,275 $10,417 
Interest expense on lease liabilities5,213 4,969 4,491 
The summary of cash paid for amounts included in the measurement of liabilities included on the consolidated statements of cash flows and supplementary cash flow information are included below:
Years ended April 30,
202620252024
Operating cash flows required by operating leases$40,869 $28,992 $8,693 
Operating cash flows required by finance leases5,213 4,969 4,491 
Financing cash flows required by finance leases10,416 9,367 9,156 
Right-of-use assets obtained in exchange for new finance lease liabilities$20,980 $16,715 $17,626 
Right-of-use assets obtained in exchange for new operating lease liabilities43,564 316,762 14,646 
Weighted average remaining lease terms and weighted average discount rates on outstanding leases were as follows:
April 30,
20262025
Weighted-average remaining lease-term - finance lease14.715.5
Weighted-average remaining lease-term - operating lease19.719.8
Weighted-average discount rate - finance lease4.89 %4.92 %
Weighted-average discount rate - operating lease5.95 %5.89 %
Future minimum payments under the finance leases and operating leases consisted of the following at April 30, 2026:
Years ended April 30,Finance leasesOperating leases
2027$15,124 $38,175 
202815,713 40,012 
202914,685 40,053 
203013,118 40,271 
20317,410 40,324 
Thereafter100,031 622,058 
Total minimum lease payments$166,081 $820,893 
Less amount representing interest50,884 347,412 
Present value of net minimum lease payments$115,197 $473,481 
In fiscal year 2020, Casey’s Marketing Company, and the City of Joplin, Missouri (“Joplin”) entered into an agreement in which Joplin agreed to issue up to $51,400 of taxable industrial development revenue bonds for the purpose of acquiring, constructing, improving, purchasing, equipping and installing a warehouse and distribution facility, which has been completed and is currently being used by the Company. As the title of the development was transferred to Joplin and the Company is subsequently leasing the related asset from Joplin, we have accounted for the transaction under the sale-and-leaseback guidance. We have a purchase option included in the lease agreement for below the fair value of the asset, which prevents the transfer of the assets to Joplin from being recognized as a sale. Accordingly, we have not recognized any gain or loss related to the transfer. Furthermore, we have not derecognized the transferred assets and continue to recognize them in property and equipment on the consolidated balance sheets. The Company has the right and intends to set-off any obligations to make payments under the lease, with proceeds due from the industrial revenue bonds.