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Defined Benefit Pension Plans
3 Months Ended
Jul. 31, 2018
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 contributed $1,000,000 to the plans during the three months ended July 31, 2018. There were no Company contributions to the plans in the three months ended July 31, 2017. The Company does not plan to make any additional contributions during fiscal 2019. The Company assumed an expected long-term rate of return of 7.75% for the periods ended July 31, 2018 and July 31, 2017. Pension expense consisted of the following (in thousands):

 

     Three months ended
July 31, 2018
     Three months ended
July 31, 2017
 

Service cost

   $ —        $ —    

Interest cost

     215        219  

Expected return on plan assets

     (362      (339

Recognition of net loss

     221        283  
  

 

 

    

 

 

 

Net periodic pension expense

   $ 74      $ 163