Defined Benefit Pension Plans

9 Months Ended

Jan. 31, 2019

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. Company contributions of $1,000,000 were paid to the plans during the nine months ended January 31, 2019, and the Company does not expect any contributions to be paid to the plans during the remainder of the fiscal year. Contributions of $600,000 were paid to the plans during the nine months ended January 31, 2018. The Company assumed an expected long-term rate of return of 7.75% for the period ended January 31, 2019 as compared to 7.75% for the period ended January 31, 2018. Pension expense consisted of the following (in thousands):



	Three Months Ended January 31, 2019			Three Months Ended January 31, 2018
Service cost	$	0		$	0
Interest cost	214			219
Expected return on plan assets	(362		)	(328		)
Recognition of net loss	221			283
Net periodic pension expense	$	73		$	174



	Nine Months Ended January 31, 2019			Nine Months Ended January 31, 2018
Service cost	$	0		$	0
Interest cost	644			657
Expected return on plan assets	(1,086		)	(984		)
Recognition of net loss	663			849
Net periodic pension expense	$	221		$	522