Defined Benefit Pension Plans

9 Months Ended

Jan. 31, 2020

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. There were no Company contributions paid to the plans during the three and nine months ended January 31, 2020, and the Company does not expect any contributions to be paid during the remainder of the fiscal year. Contributions of $1,000,000 were paid to the plans during the nine months ended January 31, 2019. The Company assumed an expected long-term rate of return of 7.75% for the periods ended January 31, 2020 and January 31, 2019. Pension expense consisted of the following (in thousands):



	Three Months Ended January 31, 2020			Three Months Ended January 31, 2019
Service cost	$	0		$	0
Interest cost	208			214
Expected return on plan assets	(355		)	(362		)
Recognition of net loss	260			221
Net periodic pension expense	$	113		$	73



	Nine Months Ended January 31, 2020			Nine Months Ended January 31, 2019
Service cost	$	0		$	0
Interest cost	624			644
Expected return on plan assets	(1,065		)	(1,086		)
Recognition of net loss	780			663
Net periodic pension expense	$	339		$	221