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Defined Benefit Pension Plans

3 Months Ended

Jul. 31, 2017

Retirement Benefits [Abstract]

Defined Benefit Pension Plans

G. Defined Benefit Pension Plans

The Company has non-contributory defined benefit pension plans covering substantially all domestic salaried and hourly employees. 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, 2017 and 2016. The Company expects to make contributions of $600,000 to the plans during fiscal year 2018. The Company assumed an expected long-term rate of return of 7.75% for the period ended July 31, 2017 as compared to 8.0% for the period ended July 31, 2016. Pension expense consisted of the following (in thousands):

		Three months ended July 31, 2017				Three months ended July 31, 2016
Service cost		$	-0-			$	-0-
Interest cost			219				231
Expected return on plan assets			(339	)			(310	)
Recognition of net loss			283				310
Net periodic pension expense		$	163			$	231

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- References

No definition available.

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- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

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