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Pension Benefits
 9 Months Ended
Jan. 31, 2017
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- and nine-month periods ended January 31, 2017 and 2016: 
 

Three Months Ended

Nine Months Ended
 

January 31,

January 31,
(in thousands)

2017

2016

2017

2016
Interest cost

$
1,443


$
1,754


$
4,329


$
5,260

Expected return on plan assets

(2,019
)

(2,036
)

(6,059
)

(6,106
)
Recognized net actuarial loss

442


353


1,328


1,059














Net periodic pension (benefit) cost

$
(134
)

$
71


$
(402
)

$
213


 
The Company expects to contribute a total of $27.3 million to its pension plans in fiscal 2017, which represents both required and discretionary funding. As of January 31, 2017, all $27.3 million of contributions had been made. 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. The Company made contributions of $5.0 million to its pension plans in fiscal 2016.