Pension Benefits

3 Months Ended

Jul. 31, 2012

Pension Benefits [Abstract]

Pension Benefits

NOTE I--PENSION BENEFITS

Effective April 30, 2012, the Company froze all future benefit accruals under the Company’s hourly and salary defined-benefit pension plans.

Net periodic pension cost consisted of the following for the three months ended July 31, 2012 and 2011.

	Three Months Ended
	July 31,
(in thousands)	2012		2011
Service cost	$	0	$	1,283
Interest cost		1,565		1,676
Expected return on plan assets		(1,641)		(1,656)
Amortization of net loss		231		522
Amortization of prior service cost		0		20
Net periodic pension cost	$	155	$	1,845

Based on the laws and assumptions as of April 30, 2012, the Company expects to contribute $7.3 million to its pension plans in fiscal 2013, which represents required funding.As of July 31, 2012, $1.5 million of contributions have been made.The Company made contributions of $2.9 million to its pension plans in fiscal 2012.

New legislation was passed in July 2012 that may have the effect of spreading the expected funding requirements for the Company’s pension plans over a longer period of time.The Company has not yet estimated the effect of the new law on its projected contributions to the pension plans as the rules to apply the new law are not yet available.