Pensions and Other Postretirement Benefits

9 Months Ended

Jan. 31, 2013

Pensions and Other Postretirement Benefits [Abstract]

Pensions and Other Postretirement Benefits

Note 11: Pensions and Other Postretirement Benefits

The components of the Company’s net periodic benefit cost for defined benefit pension and other postretirement benefit plans are shown below.

	Three Months Ended January 31,
	Defined Benefit Pension Plans						Other Postretirement Benefits
	2013			2012			2013			2012
Service cost	$	2,211		$	2,003		$	616		$	586
Interest cost		5,975			6,523			774			762
Expected return on plan assets		(6,321	)		(6,672	)		—			—
Recognized net actuarial loss (gain)		3,280			2,151			—			(10	)
Termination benefit cost		—			1,838			—			2,030
Curtailment loss (gain)		—			1,124			—			(115	)
Other		253			271			(106	)		(106	)
Net periodic benefit cost	$	5,398		$	7,238		$	1,284		$	3,147
	Nine Months Ended January 31,
	Defined Benefit Pension Plans						Other Postretirement Benefits
	2013			2012			2013			2012
Service cost	$	6,829		$	6,041		$	1,848		$	1,656
Interest cost		18,000			19,646			2,320			2,314
Expected return on plan assets		(18,970	)		(20,271	)		—			—
Recognized net actuarial loss (gain)		9,917			7,424			—			(33	)
Termination benefit cost		—			1,838			—			2,030
Curtailment loss (gain)		—			1,124			—			(115	)
Settlement loss		6,669			—			—			—
Other		759			856			(318	)		(319	)
Net periodic benefit cost	$	23,204		$	16,658		$	3,850		$	5,533

Upon completion of the restructuring plan discussed in Note 5: Restructuring, approximately 850 full-time positions will be reduced. The Company has included the estimated impact of the planned reductions in measuring the net periodic benefit cost of the defined benefit pension and other postretirement benefit plans for the three and nine months ended January 31, 2013 and 2012. During the nine months ended January 31, 2013, the Company paid a portion of its terminated pension participants lump-sum cash settlements in order to reduce the Company’s future pension obligation and administrative costs. The charges related to the lump-sum cash settlements are included above in settlement loss and were reported in other special project costs in the Condensed Statement of Consolidated Income during the nine months ended January 31, 2013.