XML 24 R13.htm IDEA: XBRL DOCUMENT v3.5.0.2
Defined Benefit Pension Plans
 3 Months Ended
Jul. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Defined Benefit Pension Plans

E. Defined Benefit Pension Plans

The Company has non-contributory defined benefit pension plans. These plans were amended as of April 30, 2005. No further benefits have been, or will be, earned under the plans, subsequent to the amendment date, and no additional participants will be added to the plans. The Company did not make any contributions to the plans during the three months ended July 31, 2016 and 2015. The Company expects to make contributions of $555,000 to the plans during fiscal year 2017.

Pension expense consisted of the following (in thousands):

 

     Three months ended
July 31, 2016		      Three months ended
July 31, 2015		  

Service cost

    $ -0-       $ -0-   

Interest cost

      231         230   

Expected return on plan assets

      (310 )       (344 ) 

Recognition of net loss

      310         294   
  

 

 

     

 

 

  

Net periodic pension expense

    $ 231       $ 180