XML 34 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
Pension Benefits
 9 Months Ended
Jan. 31, 2018
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, 2018 and 2017: 
 

Three Months Ended

Nine Months Ended
 

January 31,

January 31,
(in thousands)

2018

2017

2018

2017
Interest cost

$
1,431


$
1,443


$
4,295


$
4,329

Expected return on plan assets

(2,234
)

(2,019
)

(6,702
)

(6,059
)
Recognized net actuarial loss

401


442


1,201


1,328














Net periodic pension benefit

$
(402
)

$
(134
)

$
(1,206
)

$
(402
)

 
The Company contributed a total of $19.3 million to its pension plans in the first nine months of fiscal 2018, which represents both required and discretionary funding, and does not expect to contribute any additional funds during the remainder of fiscal 2018. On August 24, 2017, the Board of Directors of the Company approved up to $13.6 million of discretionary funding which is included in the total contributions for the year. The Company made contributions of $27.3 million to its pension plans in fiscal 2017.