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Employee Benefit and Retirement Plans (Tables) | 12 Months Ended
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Apr. 30, 2016
Compensation and Retirement Disclosure [Abstract] |
Reconciliation Of Benefit Obligations, Plan Assets, And Funded Status | The following provides a reconciliation of benefit obligations, plan assets and funded status of the Company’s non-contributory defined benefit pension plans as of April 30:
| APRIL 30
(in thousands) | 2016 |  | 2015
CHANGE IN PROJECTED BENEFIT OBLIGATION |  |  |
Projected benefit obligation at beginning of year | $ | 169,986 |  |  | $ | 144,142 |
Interest cost | 7,014 |  |  | 6,466 |
Actuarial losses | 1,921 |  |  | 24,168 |
Benefits paid | (4,825 | ) |  | (4,790 | )
Projected benefit obligation at end of year | $ | 174,096 |  |  | $ | 169,986 |
CHANGE IN PLAN ASSETS |  |  |
Fair value of plan assets at beginning of year | $ | 108,661 |  |  | $ | 102,599 |
Actual return on plan assets | (1,887 | ) |  | 6,583 |
Company contributions | 5,016 |  |  | 4,269 |
Benefits paid | (4,825 | ) |  | (4,790 | )
Fair value of plan assets at end of year | $ | 106,965 |  |  | $ | 108,661 |
Funded status of the plans | $ | (67,131 | ) |  | $ | (61,325 | )
Unrecognized net actuarial loss | 77,514 |  |  | 66,975 |
Prepaid benefit cost | $ | 10,383 |  |  | $ | 5,650 |
Net Periodic Pension Cost | The accumulated benefit obligation for both pension plans was $174.1 million and $170.0 million at April 30, 2016 and 2015, respectively.
| PENSION BENEFITS
(in thousands) | 2016 |  | 2015 |  | 2014
COMPONENTS OF NET PERIODIC PENSION BENEFIT COST |  |  |  |  |
Interest cost | $ | 7,014 |  |  | $ | 6,466 |  |  | $ | 6,203 |
Expected return on plan assets | (8,142 | ) |  | (7,666 | ) |  | (7,113 | )
Recognized net actuarial loss | 1,412 |  |  | 865 |  |  | 1,129 |
Pension benefit cost | $ | 284 |  |  | $ | (335 | ) |  | $ | 219 |
Schedule Of Assumptions Used To Determine Benenfit Obligations And Earnings Effects For Pension Plans | The discount rate at April 30 was used to measure the year-end benefit obligations and the earnings effects for the subsequent year. Actuarial assumptions used to determine benefit obligations and earnings effects for the pension plans follow:
| FISCAL YEARS ENDED APRIL 30
| 2016 |  | 2015
WEIGHTED-AVERAGE ASSUMPTIONS TO DETERMINE BENEFIT OBLIGATIONS |  |  |
Discount rate | 4.06 % |  | 4.19 %
| FISCAL YEARS ENDED APRIL 30
| 2016 |  | 2015 |  | 2014
WEIGHTED-AVERAGE ASSUMPTIONS TO DETERMINE NET PERIODIC PENSION BENEFIT COST |  |  |  |  |
Discount rate | 4.19 % |  | 4.56 % |  | 4.21%
Expected return on plan assets | 7.5 % |  | 7.5 % |  | 7.5 %
Schedule Of Expected Future Benefit Payments | The following benefit payments, which reflect expected future service, are expected to be paid:
FISCAL YEAR | BENEFIT PAYMENTS (in thousands)
2017 | $ | 5,547 |
2018 | 5,903 |
2019 | 6,334 |
2020 | 6,696 |
2021 | 7,147 |
Years 2022-2026 | 41,024 |
Schedule Of Pension Assets By Major Category Of Plan Assets And Type Of Fair Value Measurements | Pension assets by major category and the type of fair value measurement as of April 30, 2016 and 2015 are presented in the following tables:
FAIR VALUE MEASUREMENTS AT APRIL 30, 2016
(in thousands) | TOTAL |  | QUOTED PRICES IN ACTIVE MARKETS (LEVEL 1) |  | SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) |  | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)
Cash Equivalents | $ | 10 |  |  | $ | 10 |  |  | $ | — |  |  | $ | — |
Equity Funds: |  |  |  |  |  |  |
Mutual Fund Equity | 61,338 |  |  | 61,338 |  |  | — |  |  | — |
Fixed Income Funds: |  |  |  |  |  |  |
Mutual Fund Tax Income | 27,681 |  |  | 27,681 |  |  | — |  |  | — |
Common and Collective Funds:1 |  |  |  |  |  |  |  |  |  |  |
Capital Preservation Fund | 17,936 |  |  | — |  |  | 17,936 |  |  | — |
Total | $ | 106,965 |  |  | $ | 89,029 |  |  | $ | 17,936 |  |  | $ | — |
FAIR VALUE MEASUREMENTS AT APRIL 30, 2015
(in thousands) | TOTAL |  | QUOTED PRICES IN ACTIVE MARKETS (LEVEL 1) |  | SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) |  | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)
Cash Equivalents | $ | 8 |  |  | $ | 8 |  |  | $ | — |  |  | $ | — |
Equity Funds: |  |  |  |  |  |  |
Mutual Fund Equity | 62,533 |  |  | 62,533 |  |  | — |  |  | — |
Fixed Income Funds: |  |  |  |  |  |  |
Mutual Fund Tax Income | 28,408 |  |  | 28,408 |  |  | — |  |  | — |
Common Collective Funds:1 |  |  |  |  |  |  |  |  |  |  |
Capital Preservation Fund | 17,712 |  |  | — |  |  | 17,712 |  |  | — |
Total | $ | 108,661 |  |  | $ | 90,949 |  |  | $ | 17,712 |  |  | $ | — |
1 The Collective Trust Funds are valued by applying each plan's ownership percentage in the fund to the fund's net assets at fair value at the valuation date.
Schedule Of Allocation Of Plan Assets | The Company’s pension plans’ weighted-average asset allocations at April 30, 2016 and 2015, by asset category, were as follows:
| PLAN ASSET ALLOCATION
| 2016 |  | 2016 |  | 2015
APRIL 30 | TARGET |  | ACTUAL |  | ACTUAL
Equity Funds | 50.0 % |  | 57.0 % |  | 58.0 %
Fixed Income Funds | 50.0 % |  | 43.0 % |  | 42.0 %
Total | 100.0 % |  | 100.0 % |  | 100.0 %

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
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