XML 34 R22.htm IDEA: XBRL DOCUMENT v3.22.2.2
Employee Retirement Plans
 6 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Employee Retirement Plans Employee Retirement Plans
The primary components of Net Periodic Benefits consist of the following:
Three Months Ended September 30, Six Months Ended September 30,
 (In thousands)2022202120222021
Interest cost$29 $278 $360 $556 
Expected return on assets— (290)(252)(580)
Net periodic benefit expense (income)$29 $(12)$108 $(24)

During the six months ended September 30, 2022, we contributed $0.2 million to our non-qualified defined benefit plan and made no contributions to the qualified defined benefit plan. During the remainder of fiscal 2023, we expect to contribute an additional $0.2 million to our non-qualified plan and to make no contributions to the qualified plan.
During the fourth quarter of 2021, we adopted a plan termination date of April 30, 2021 for our U.S. qualified defined benefit pension plan (the "Plan") and began the Plan termination process. The settlements of the terminated Plan occurred during the first quarter of fiscal 2023 with lump sum settlements in the amount of $13.8 million being paid to eligible Plan participants who elected such payments and the purchase of annuity contracts for $31.1 million to the remaining participants. These settlements were paid using Plan assets and resulted in a settlement loss of $0.4 million. No further contributions to the Plan were necessary.