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Pension Benefits
 3 Months Ended
Jul. 31, 2016
Pension and Other Postretirement Benefit Expense [Abstract]  
Pension Benefits
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 (benefit) cost consisted of the following for the three-month periods ended July 31, 2016 and 2015: 
 

Three Months Ended
 

July 31,
(in thousands)

2016

2015
Interest cost

$
1,443


$
1,754

Expected return on plan assets

(2,020
)

(2,036
)
Recognized net actuarial loss

443


353








Net periodic pension (benefit) cost

$
(134
)

$
71


 
The Company expects to contribute $27.3 million to its pension plans in fiscal 2017, which represents both required and discretionary funding. On August 25, 2016, the Board of Directors of the Company approved up to $20 million of discretionary funding which is included in the total expected contributions for the year. As of July 31, 2016, $1.0 million of contributions had been made.  The Company made contributions of $5.0 million to its pension plans in fiscal 2016.