Caseys General Stores Inc Q4 2022 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: John Macalister Royall - JPMorgan Chase & Co, Research Division - Analyst : So on the store addition guidance, just looking at the 80 stores, it's a relatively big program if you plan to do it mostly organically. And then just comparing to prior years, the CapEx at the low end seems pretty similar to fiscal '20 and '21 on a much smaller build program. So -- and that's before backing out the remodels for the new stores. So I'm just trying to square why the CapEx appears so low relative to the 80-store programs. I don't know if there's an assumption that some of that 80 comes from acquisitions or if there's something else I'm missing there maybe.

Question: John Macalister Royall - JPMorgan Chase & Co, Research Division - Analyst : Great. That's really helpful. And then, Steve, you talked a little bit about deferred taxes in the prepared remarks. I just wanted to dig in on that a little because it looks like for the full year, your cash taxes were quite low after adjusting for the deferred add-back, which was relatively large. So just looking for a little more detail on what was driving that on the low cash taxes.