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BENEFIT PLANS (Tables) | 12 Months Ended
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Apr. 30, 2022
BENEFIT PLANS |
Schedule of net periodic pension cost | Net periodic pension cost for 2022 and 2021 was comprised of the following components (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended April 30,
​ |  | 2022 |  | 2021
Interest cost on projected benefit obligation | ​ | $ | 503 | ​ | $ | 504
Expected return on assets | ​ |  | (1,535) | ​ |  | (1,409)
Plan expenses | ​ |  | 150 | ​ |  | 340
Recognized net actuarial loss | ​ |  | 392 | ​ |  | 529
Net periodic pension cost | ​ | $ | (490) | ​ | $ | (36)
Schedule of assumptions used in determining net periodic pension cost | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended April 30, |
​ |  | 2022 |  | 2021 |
Discount rate used to determine net periodic pension cost |  | 2.48 | % | 2.29 | %
Discount rate used to determine pension benefit obligation |  | 3.97 | % | 2.48 | %
Expected long-term rate of return on assets used for pension cost on assets |  | 7.75 | % | 7.75 | %
Schedule of pension plan's benefit obligation and assets | The following table sets forth changes in the pension plan’s benefit obligation and assets, and summarizes components of amounts recognized in the Company’s consolidated balance sheet (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | April 30,
​ |  | 2022 |  | 2021
Change in benefit obligation: |  | ​ |  |  | ​ |
Benefit obligation at beginning of year | ​ | $ | 21,578 | ​ | $ | 23,274
Interest cost | ​ |  | 503 | ​ |  | 504
Actuarial gain | ​ |  | (2,414) | ​ |  | (537)
Benefits paid | ​ |  | (1,703) | ​ |  | (1,663)
Benefit obligation at end of year | ​ | $ | 17,964 | ​ | $ | 21,578
Change in plan assets: | ​ |  |  | ​ |  |
Fair value of plan assets at beginning of year | ​ | $ | 21,102 | ​ | $ | 18,260
Actual return on plan assets | ​ |  | (1,239) | ​ |  | 2,808
Company contributions | ​ |  | — | ​ |  | 1,847
Benefits paid | ​ |  | (1,703) | ​ |  | (1,663)
Plan expenses | ​ |  | (106) | ​ |  | (150)
Fair value of plan assets at end of year | ​ | $ | 18,054 | ​ | $ | 21,102
Overfunded (underfunded) status | ​ | $ | 90 | ​ | $ | (476)
Schedule of accumulated other comprehensive loss, which have not yet been recognized as a component of net periodic pension costs | The following table summarizes the amounts recorded in accumulated other comprehensive loss, which have not yet been recognized as a component of net periodic pension costs (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended April 30,
​ |  | 2022 |  | 2021
Pretax accumulated comprehensive loss | ​ | $ | 8,350 | ​ | $ | 8,426
Schedule of changes in accumulated other comprehensive loss related to the pension plan | The following table summarizes the changes in accumulated other comprehensive loss related to the pension plan for the years ended April 30, 2022 and 2021 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pension Benefits
​ |  | Pretax |  | Net of Tax
Accumulated comprehensive loss, May 1, 2020 | ​ | $ | 11,082 | ​ | $ | 6,467
Net actuarial gain | ​ | ​ | (2,127) | ​ | ​ | (1,483)
Amortization of net loss | ​ |  | (529) | ​ |  | (361)
Accumulated comprehensive loss, April 30, 2021 | ​ | $ | 8,426 | ​ | $ | 4,623
Net actuarial loss | ​ | ​ | 316 | ​ | ​ | 214
Amortization of net loss | ​ | ​ | (392) | ​ | ​ | (264)
Accumulated comprehensive loss, April 30, 2022 | ​ | $ | 8,350 | ​ | $ | 4,573
Schedule of asset allocation for the pension plan by asset category | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | April 30, |
​ |  | 2022 |  | 2021 |
Equity securities |  | 57 | % | 51 | %
Fixed income securities |  | 38 |  | 39 | ​
Other (principally cash and cash equivalents) |  | 5 |  | 10 | ​
Total |  | 100 | % | 100 | %
Schedule of fair value hierarchy the pension plan's assets | The following table sets forth by level within the fair value hierarchy the pension plan’s assets at fair value as of April 30, 2022 and 2021 (in thousands): 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Cash and cash equivalents | ​ | $ | 791 | ​ | $ | 791 | ​ | $ | — | ​ | $ | —
Investments at fair value: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  |
Equity securities | ​ |  | 10,348 | ​ |  | 10,348 | ​ |  | — | ​ |  | —
Fixed income securities | ​ |  | 6,915 | ​ |  | 6,915 | ​ |  | — | ​ |  | —
Total assets at fair value | ​ | $ | 18,054 | ​ | $ | 18,054 | ​ | $ | — | ​ | $ | —
​ 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Cash and cash equivalents | ​ | $ | 2,215 | ​ | $ | 2,215 | ​ | $ | — | ​ | $ | —
Investments at fair value: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  |
Equity securities | ​ |  | 10,707 | ​ |  | 10,707 | ​ |  | — | ​ |  | —
Fixed income securities | ​ |  | 8,180 | ​ |  | 8,180 | ​ |  | — | ​ |  | —
Total assets at fair value | ​ | $ | 21,102 | ​ | $ | 21,102 | ​ | $ | — | ​ | $ | —
Schedule of restricted share award activity | The restricted share award activity for 2022 was as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted Average
​ | ​ | Number of | ​ | Grant Date Fair Value
Restricted share awards |  | Shares |  | Per Share
Non-vested as of May 1, 2021 |  | 29,000 | ​ | $ | 6.18
Granted during 2022 |  | 13,000 | ​ |  | 11.50
Vested during 2022 |  | (20,500) | ​ |  | 6.61
Forfeited during 2022 |  | — | ​ |  | —
Non-vested as of April 30, 2022 | ​ | 21,500 | ​ | $ | 8.98

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- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + 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 (b) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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