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v3.19.2

Retirement Plans (Tables) | 12 Months Ended
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Apr. 30, 2019
Retirement Plans [Abstract] |
Net Periodic Pension Expense (Income) for Defined Benefit Plans and Weighted-Average Assumptions | The components of net pension expense (income) for the defined benefit plans and the weighted average assumptions were as follows:
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | U.S. |  |  | Non-U.S. |  |  | U.S. |  |  | Non-U.S. |  |  | U.S. |  |  | Non-U.S. |
Service Cost |  | $ | — |  |  | $ | 912 |  |  | $ | — |  |  | $ | 960 |  |  | $ | — |  |  | $ | 967 |
Interest Cost |  |  | 11,704 |  |  |  | 12,943 |  |  |  | 11,666 |  |  |  | 13,876 |  |  |  | 12,398 |  |  |  | 14,449 |
Expected Return on Plan Assets |  |  | (13,472 | ) |  |  | (25,551 | ) |  |  | (13,154 | ) |  |  | (26,385 | ) |  |  | (14,053 | ) |  |  | (21,173 | )
Net Amortization of Prior Service Cost |  |  | (154 | ) |  |  | 57 |  |  |  | (154 | ) |  |  | 57 |  |  |  | (154 | ) |  |  | 54 |
Recognized Net Actuarial Loss |  |  | 2,035 |  |  |  | 3,746 |  |  |  | 2,289 |  |  |  | 3,832 |  |  |  | 2,622 |  |  |  | 2,553 |
Curtailment/Settlement Loss |  |  | — |  |  |  | — |  |  |  | - |  |  |  | 19 |  |  |  | 8,842 |  |  |  | — |
Net Pension Expense (Income) |  | $ | 113 |  |  | $ | (7,893 | ) |  | $ | 647 |  |  | $ | (7,641 | ) |  | $ | 9,655 |  |  | $ | (3,150 | )
Discount Rate |  |  | 4.3 | % |  |  | 2.6 | % |  |  | 4.1 | % |  |  | 2.6 | % |  |  | 4.0 | % |  |  | 3.5 | %
Rate of Compensation Increase |  |  | N/A |  |  |  | 3.0 | % |  |  | N/A |  |  |  | 3.0 | % |  |  | N/A |  |  |  | 3.0 | %
Expected Return on Plan Assets |  |  | 6.8 | % |  |  | 6.5 | % |  |  | 6.8 | % |  |  | 6.5 | % |  |  | 6.8 | % |  |  | 6.7 | %
Amounts in Accumulated Other Comprehensive Loss to Be Recognized as Components of Net Periodic Benefit Cost During Next Fiscal Year | The amounts in Accumulated Other Comprehensive Loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year are as follows:
|  | U.S. |  |  | Non-U.S. |  |  | Total |
Actuarial Loss |  | $ | 2,390 |  |  | $ | 4,091 |  |  | $ | 6,481 |
Prior Service Cost |  |  | (154 | ) |  |  | 82 |  |  |  | (72 | )
Total |  | $ | 2,236 |  |  | $ | 4,173 |  |  | $ | 6,409 |
Changes in and Status of Plans' Assets and Benefit Obligations | The following table sets forth the changes in and the status of our defined benefit plans’ assets and benefit obligations:
|  | 2019 |  |  | 2018 |
|  | U.S. |  |  | Non-U.S. |  |  | U.S. |  |  | Non-U.S. |
CHANGE IN PLAN ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Fair Value of Plan Assets, Beginning of Year |  | $ | 204,983 |  |  | $ | 419,448 |  |  | $ | 200,001 |  |  | $ | 390,133 |
Actual Return on Plan Assets |  |  | 9,705 |  |  |  | 24,891 |  |  |  | 15,352 |  |  |  | 2,780 |
Employer Contributions |  |  | 14,753 |  |  |  | 11,872 |  |  |  | 5,020 |  |  |  | 8,385 |
Employee Contributions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Settlements |  |  | — |  |  |  | — |  |  |  | - |  |  |  | (239 | )
Benefits Paid |  |  | (15,813 | ) |  |  | (16,282 | ) |  |  | (15,390 | ) |  |  | (15,909 | )
Foreign Currency Rate Changes |  |  | — |  |  |  | (31,680 | ) |  |  | — |  |  |  | 34,298 |
Fair Value, End of Year |  | $ | 213,628 |  |  | $ | 408,249 |  |  | $ | 204,983 |  |  | $ | 419,448 |
CHANGE IN PROJECTED BENEFIT OBLIGATION |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefit Obligation, Beginning of Year |  | $ | (279,644 | ) |  | $ | (540,686 | ) |  | $ | (290,785 | ) |  | $ | (519,588 | )
Service Cost |  |  | — |  |  |  | (912 | ) |  |  | — |  |  |  | (960 | )
Interest Cost |  |  | (11,704 | ) |  |  | (12,943 | ) |  |  | (11,666 | ) |  |  | (13,876 | )
Actuarial Gains (Losses) |  |  | (9,662 | ) |  |  | (11,013 | ) |  |  | 7,417 |  |  |  | 23,528 |
Benefits Paid |  |  | 15,813 |  |  |  | 16,282 |  |  |  | 15,390 |  |  |  | 15,909 |
Foreign Currency Rate Changes |  |  | — |  |  |  | 41,143 |  |  |  | — |  |  |  | (45,938 | )
Settlements and Other |  |  | — |  |  |  | (886 | ) |  |  | - |  |  |  | 239 |
Benefit Obligation, End of Year |  | $ | (285,197 | ) |  | $ | (509,015 | ) |  | $ | (279,644 | ) |  | $ | (540,686 | )
Underfunded Status, End of Year |  | $ | (71,569 | ) |  | $ | (100,766 | ) |  | $ | (74,661 | ) |  | $ | (121,238 | )
AMOUNTS RECOGNIZED ON THE STATEMENT OF FINANCIAL POSITION |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Pension Liability |  |  | (5,188 | ) |  |  | (816 | ) |  |  | (4,818 | ) |  |  | (780 | )
Noncurrent Pension Liability |  |  | (66,381 | ) |  |  | (99,950 | ) |  |  | (69,843 | ) |  |  | (120,458 | )
Net Amount Recognized in Statement of Financial Position |  | $ | (71,569 | ) |  | $ | (100,766 | ) |  | $ | (74,661 | ) |  | $ | (121,238 | )
AMOUNTS RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS (BEFORE TAX) CONSIST OF |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Actuarial (Losses) |  | $ | (94,028 | ) |  | $ | (177,157 | ) |  | $ | (82,636 | ) |  | $ | (183,316 | )
Prior Service Cost Gains (Losses) |  |  | 2,408 |  |  |  | (1,154 | ) |  |  | 2,562 |  |  |  | (441 | )
Total Accumulated Other Comprehensive Loss |  | $ | (91,620 | ) |  | $ | (178,311 | ) |  | $ | (80,074 | ) |  | $ | (183,757 | )
Change in Accumulated Other Comprehensive Loss |  | $ | (11,546 | ) |  | $ | 5,446 |  |  | $ | 11,749 |  |  | $ | (11,708 | )
WEIGHTED AVERAGE ASSUMPTIONS USED IN DETERMINING ASSETS AND LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount Rate |  |  | 4.1 | % |  |  | 2.4 | % |  |  | 4.3 | % |  |  | 2.6 | %
Rate of Compensation Increase |  |  | N/A |  |  |  | 3.0 | % |  |  | N/A |  |  |  | 3.0 | %
Accumulated Benefit Obligations |  | $ | (285,197 | ) |  | $ | (477,561 | ) |  | $ | (279,644 | ) |  | $ | (507,932 | )
Pension Plan Assets at Fair Value by Level Within Fair Value Hierarchy | We did not maintain any level 3 assets during the years ended April 30, 2019 and 2018. In accordance with ASU 2015-07, “Fair Value Measurement (“Topic 820”), certain investments that are measured at fair value using the net asset value (“NAV”) per share (or its equivalent) practical expedient do not have to be classified in the fair value hierarchy. We adopted ASU 2015-07 in the year ended April 30, 2018 and it was applied retrospectively to all periods presented. The fair value amounts presented in the following tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented for the total pension benefit plan assets. The following tables set forth, by level within the fair value hierarchy, pension plan assets at their fair value as of April 30:
|  | 2019 |  |  | 2018 |
|  | Level 1 |  |  | Level 2 |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Total |
U.S. Plan Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments measured at NAV: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Global Equity Securities: Limited Partnership |  |  |  |  |  |  |  | $ | 109,490 |  |  |  |  |  |  |  |  | $ | 95,933 |
Fixed Income Securities: Commingled Trust Funds |  |  |  |  |  |  |  |  | 104,138 |  |  |  |  |  |  |  |  |  | 100,295 |
Other: Real Estate Commingled Trust Fund |  |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  |  | 8,755 |
Total Assets at NAV |  |  |  |  |  |  |  | $ | 213,628 |  |  |  |  |  |  |  |  | $ | 204,983 |
Non-U.S. Plan Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Equities |  | $ | — |  |  | $ | 39,652 |  |  | $ | 39,652 |  |  | $ | — |  |  | $ | 31,203 |  |  | $ | 31,203 |
Non-U.S. Equities |  |  | — |  |  |  | 117,575 |  |  |  | 117,575 |  |  |  | — |  |  |  | 96,387 |  |  |  | 96,387 |
Balanced Managed Funds |  |  | — |  |  |  | 48,550 |  |  |  | 48,550 |  |  |  | — |  |  |  | 91,743 |  |  |  | 91,743 |
Fixed Income Securities: Commingled Funds |  |  | 855 |  |  |  | 199,720 |  |  |  | 200,575 |  |  |  | — |  |  |  | 197,804 |  |  |  | 197,804 |
Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real Estate/Other |  |  | — |  |  |  | 501 |  |  |  | 501 |  |  |  | — |  |  |  | 549 |  |  |  | 549 |
Cash and Cash Equivalents |  |  | 1,396 |  |  |  | — |  |  |  | 1,396 |  |  |  | 1,762 |  |  |  | — |  |  |  | 1,762 |
Total Non-U.S. Plan Assets |  | $ | 2,251 |  |  | $ | 405,998 |  |  | $ | 408,249 |  |  | $ | 1,762 |  |  | $ | 417,686 |  |  | $ | 419,448 |
Total Plan Assets |  | $ | 2,251 |  |  | $ | 405,998 |  |  | $ | 621,877 |  |  | $ | 1,762 |  |  | $ | 417,686 |  |  | $ | 624,431 |
Expected Future Benefit Payments | Benefit payments to retirees from all defined benefit plans are expected to be the following in the fiscal year indicated:
Fiscal Year |  |  | U.S. |  |  | Non-U.S. |  |  | Total |
2020 |  |  | $ | 16,287 |  |  | $ | 8,868 |  |  | $ | 25,155 |
2021 |  |  |  | 14,741 |  |  |  | 9,610 |  |  |  | 24,351 |
2022 |  |  |  | 14,894 |  |  |  | 11,019 |  |  |  | 25,913 |
2023 |  |  |  | 15,259 |  |  |  | 11,433 |  |  |  | 26,692 |
2024 |  |  |  | 15,436 |  |  |  | 12,097 |  |  |  | 27,533 |
2025 – 2029 |  |  |  | 76,053 |  |  |  | 71,732 |  |  |  | 147,785 |
Total |  |  | $ | 152,670 |  |  | $ | 124,759 |  |  | $ | 277,429 |

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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=112275985&loc=d3e4179-114921 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e2439-114920 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e2410-114920 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e2417-114920 + Details
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