Defined Benefit Pension Plans

9 Months Ended

Jan. 31, 2021

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 $30,000 to the plans during the three and nine months ended January 31, 2021. There were no Company contributions paid to the plans during the three and nine months ended January 31, 2020. The Company assumed an expected long-term rate of return of 7.75% for the periods ended January 31, 2021 and January 31, 2020. Pension expense consisted of the following (in thousands):


	Three Months Ended January 31, 2021		Three Months Ended January 31, 2020

Service cost	$	0	$	0
Interest cost	181		208
Expected return on plan assets	(321)		(355)
Recognition of net loss	428		260
Net periodic pension expense	$	288	$	113


	Nine Months Ended January 31, 2021		Nine Months Ended January 31, 2020

Service cost	$	0	$	0
Interest cost	543		624
Expected return on plan assets	(963)		(1,065)
Recognition of net loss	1,285		780
Net periodic pension expense	$	865	$	339