Defined Benefit Pension Plans

3 Months Ended

Jul. 31, 2022

Retirement Benefits [Abstract]

Defined Benefit Pension Plans

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. There were no Company contributions paid to the plans for the three months ended July 31, 2022 and July 31, 2021. The Company assumed an expected long-term rate of return of 7.75% for the periods ended July 31, 2022 and July 31, 2021.

Pension expense / (income) consisted of the following (in thousands):

	Three Months Ended
	July 31, 2022		July 31, 2021
Service cost	$	—	$	—
Interest cost	322		177
Expected return on plan assets	(535)		(401)
Recognition of net loss	240		135
Net periodic pension expense (income)	$	27	$	(89)