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Retirement Benefits (Tables)
 12 Months Ended
Apr. 30, 2013
Compensation And Retirement Disclosure [Abstract]  
Summary of Change in Projected Benefit Obligations and Change in Fair Value of Plan Assets
The change in projected benefit obligations and the change in fair value of plan assets for the non-contributory defined benefit pension plans for each of the years ended April 30 are summarized as follows:

 

$ in thousands

    2013        2012  

Accumulated Benefit Obligation, April 30

    $ 20,683         $ 19,061   
  

 

 

       

 

 

  

Change in Projected Benefit Obligations

        

Projected benefit obligations, beginning of year

    $ 19,061         $ 17,328   

Interest cost

      906           942   

Actuarial loss

      1,610           1,611   

Actual benefits paid

      (894)           (820)   
  

 

 

       

 

 

  

Projected benefit obligations, end of year

      20,683           19,061   
  

 

 

       

 

 

  

Change in Plan Assets

        

Fair value of plan assets, beginning of year

      14,007           14,979   

Actual return (loss) on plan assets

      1,302           (554)   

Employer contributions

      1,000           402   

Actual benefits paid

      (894)           (820)   
  

 

 

       

 

 

  

Fair value of plan assets, end of year

      15,415           14,007   
  

 

 

       

 

 

  

Funded status – under

    $ (5,268)         $ (5,054)   
  

 

 

       

 

 

  

Amounts Recognized in the Consolidated Balance Sheets consist of:

        

Noncurrent assets

    $ —          $ —    

Noncurrent liabilities

      (5,268)           (5,054)   
  

 

 

       

 

 

  

Net amount recognized

    $ (5,268)         $ (5,054)   
  

 

 

       

 

 

  

Amounts recognized in accumulated other comprehensive income (loss) consist of:

        

Net actual loss

    $ 11,078         $ 10,658   

Deferred tax benefit

      (4,310)           (4,146)   
  

 

 

       

 

 

  

After-tax actuarial loss

    $ 6,768         $ 6,512   
  

 

 

       

 

 

  

Weighted-Average Assumptions Used to Determine Benefit Obligations at April 30

        

Discount rate

      4.25%          4.75%  

Rate of compensation increase

      N/A           N/A   
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost for Years Ended April 30        

Discount rate

      4.75%          5.60%  

Expected long-term return on plan assets

      8.50%          8.75%  

Rate of compensation increase

      N/A           N/A   
Summary of Components of Net Periodic Pension Cost

The components of the net periodic pension cost for each of the fiscal years ended April 30 are as follows:

 

$ in thousands

    2013      2012      2011  

Interest cost

    $ 906       $ 942       $ 959   

Expected return on plan assets

      (1,213)         (1,306)         (1,155)   

Recognition of net loss

      1,102         717         687   
  

 

 

     

 

 

     

 

 

  

Net periodic pension cost

    $ 795       $ 353       $ 491   
  

 

 

     

 

 

     

 

 

  
Summary of Expected Benefit Payments

The following benefit payments are expected to be paid from the benefit plans in the fiscal years ending April 30:

 

$ in thousands

    Amount  

2014

    $  1,050   

2015

      1,122   

2016

      1,199   

2017

      1,220   

2018

      1,266   

2019-2023

      6,684   
Summary of Plan Assets by Asset Categories

Plan assets by asset categories as of April 30, 2013 and 2012 were as follows:

 

$ in thousands

    2013      2012  

Asset Category

    Amount      %      Amount      %  

Equity Securities

    $ 7,754         50       $ 9,417         67   

Fixed Income Securities

      4,475         29         4,547         33   

Cash and Cash Equivalents

      3,186         21         43         —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Totals

    $ 15,415         100       $ 14,007         100   
  

 

 

     

 

 

     

 

 

     

 

 

  
Summary of Fair Value Assets in Defined Benefit Pension Plans

The following tables present the fair value of the assets in our defined benefit pension plans at April 30, 2013 and 2012:

 

     2013  

Asset Category

    Level 1      Level 2      Level 3  

Large Cap

    $ 5,875       $  —        $  —    

Small/Mid Cap

      1,535         —          —    

Emerging Markets

      216         —          —    

Real Estate/Commodities

      128         —          —    

Fixed Income

      4,475         —          —    

Cash and Cash Equivalents

      3,186         —          —    
  

 

 

     

 

 

     

 

 

  

Totals

    $ 15,415       $      —        $      —    
  

 

 

     

 

 

     

 

 

  

 

     2012  

Asset Category

    Level 1      Level 2      Level 3  

Large Cap

    $ 5,225       $  —        $  —    

Small/Mid Cap

      1,329         —          —    

International

      1,202         —          —    

Emerging Markets

      1,134         —          —    

Real Estate/Commodities

      527         —          —    

Fixed Income

      4,547         —          —    

Cash and Cash Equivalents

      43         —          —    
  

 

 

     

 

 

     

 

 

  

Totals

    $ 14,007       $      —        $      —