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Pension Benefits
3 Months Ended
Jul. 31, 2013
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, 2013 and 2012:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

July 31,

 

(in thousands)

 

2013

 

2012

 

Interest cost

 

$

1,551 

 

$

1,565 

 

Expected return on plan assets

 

 

(1,778)

 

 

(1,641)

 

Recognized net actuarial loss

 

 

282 

 

 

231 

 

 

 

 

 

 

 

 

 

Net periodic pension cost

 

$

55 

 

$

155 

 

 

The Company expects to contribute $2.3 million to its pension plans in fiscal 2014, which represents required funding.  As of July 31, 2013, $0.5 million of contributions had been made.  The Company made contributions of $4.9 million to its pension plans in fiscal 2013.