| Compensation and Retirement Disclosure [Abstract] | Period [Axis] |
|---|
2015-05-01 - 2016-04-30 |
|---|
Compensation and Retirement Disclosure [Abstract] | |
Reconciliation Of Benefit Obligations, Plan Assets, And Funded Status | The following provides a reconciliation of benefit obligations, plan assets and funded status of the Company’s non-contributory defined benefit pension plans as of April 30: | | | | | | | | | | APRIL 30 | (in thousands) | 2016 |
| 2015 | CHANGE IN PROJECTED BENEFIT OBLIGATION | |
| | Projected benefit obligation at beginning of year | $ | 169,986 |
|
| $ | 144,142 |
| Interest cost | 7,014 |
|
| 6,466 |
| Actuarial losses | 1,921 |
|
| 24,168 |
| Benefits paid | (4,825 | ) |
| (4,790 | ) | Projected benefit obligation at end of year | $ | 174,096 |
|
| $ | 169,986 |
|
|
|
|
| CHANGE IN PLAN ASSETS | |
| | Fair value of plan assets at beginning of year | $ | 108,661 |
|
| $ | 102,599 |
| Actual return on plan assets | (1,887 | ) |
| 6,583 |
| Company contributions | 5,016 |
|
| 4,269 |
| Benefits paid | (4,825 | ) |
| (4,790 | ) | Fair value of plan assets at end of year | $ | 106,965 |
|
| $ | 108,661 |
|
|
|
|
|
|
| Funded status of the plans | $ | (67,131 | ) |
| $ | (61,325 | ) | Unrecognized net actuarial loss | 77,514 |
|
| 66,975 |
| Prepaid benefit cost | $ | 10,383 |
|
| $ | 5,650 |
|
|
Net Periodic Pension Cost | The accumulated benefit obligation for both pension plans was $174.1 million and $170.0 million at April 30, 2016 and 2015, respectively. | | | | | | | | | | | | | | PENSION BENEFITS | (in thousands) | 2016 |
| 2015 |
| 2014 |
|
|
|
|
|
| COMPONENTS OF NET PERIODIC PENSION BENEFIT COST | |
| |
| | Interest cost | $ | 7,014 |
|
| $ | 6,466 |
|
| $ | 6,203 |
| Expected return on plan assets | (8,142 | ) |
| (7,666 | ) |
| (7,113 | ) | Recognized net actuarial loss | 1,412 |
|
| 865 |
|
| 1,129 |
| Pension benefit cost | $ | 284 |
|
| $ | (335 | ) |
| $ | 219 |
|
|
Schedule Of Assumptions Used To Determine Benenfit Obligations And Earnings Effects For Pension Plans | The discount rate at April 30 was used to measure the year-end benefit obligations and the earnings effects for the subsequent year. Actuarial assumptions used to determine benefit obligations and earnings effects for the pension plans follow: | | | | | | FISCAL YEARS ENDED APRIL 30 | | 2016 |
| 2015 |
|
|
|
| WEIGHTED-AVERAGE ASSUMPTIONS TO DETERMINE BENEFIT OBLIGATIONS | |
| | Discount rate | 4.06 % |
| 4.19 % |
| | | | | | | | FISCAL YEARS ENDED APRIL 30 | | 2016 |
| 2015 |
| 2014 |
|
|
|
|
|
| WEIGHTED-AVERAGE ASSUMPTIONS TO DETERMINE NET PERIODIC PENSION BENEFIT COST | |
| |
| | Discount rate | 4.19 % |
| 4.56 % |
| 4.21% | Expected return on plan assets | 7.5 % |
| 7.5 % |
| 7.5 % |
|
Schedule Of Expected Future Benefit Payments | The following benefit payments, which reflect expected future service, are expected to be paid: | | | | | FISCAL YEAR | BENEFIT PAYMENTS (in thousands) | | | 2017 | $ | 5,547 |
| 2018 | 5,903 |
| 2019 | 6,334 |
| 2020 | 6,696 |
| 2021 | 7,147 |
| Years 2022-2026 | 41,024 |
|
|
Schedule Of Pension Assets By Major Category Of Plan Assets And Type Of Fair Value Measurements | Pension assets by major category and the type of fair value measurement as of April 30, 2016 and 2015 are presented in the following tables: | | | | | | | | | | | | | | | | | FAIR VALUE MEASUREMENTS AT APRIL 30, 2016 | (in thousands) | TOTAL |
| QUOTED PRICES IN ACTIVE MARKETS (LEVEL 1) |
| SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) |
| SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | Cash Equivalents | $ | 10 |
|
| $ | 10 |
|
| $ | — |
|
| $ | — |
| Equity Funds: | |
| |
| |
| | Mutual Fund Equity | 61,338 |
|
| 61,338 |
|
| — |
|
| — |
| Fixed Income Funds: | |
| |
|
|
| | Mutual Fund Tax Income | 27,681 |
|
| 27,681 |
|
| — |
|
| — |
| Common and Collective Funds:1 |
|
|
|
|
|
|
|
|
|
|
| Capital Preservation Fund | 17,936 |
|
| — |
|
| 17,936 |
|
| — |
| Total | $ | 106,965 |
|
| $ | 89,029 |
|
| $ | 17,936 |
|
| $ | — |
|
| | | | | | | | | | | | | | | | | FAIR VALUE MEASUREMENTS AT APRIL 30, 2015 | (in thousands) | TOTAL |
| QUOTED PRICES IN ACTIVE MARKETS (LEVEL 1) |
| SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) |
| SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | Cash Equivalents | $ | 8 |
|
| $ | 8 |
|
| $ | — |
|
| $ | — |
| Equity Funds: | |
| |
| |
| | Mutual Fund Equity | 62,533 |
|
| 62,533 |
|
| — |
|
| — |
| Fixed Income Funds: | |
| |
|
|
| | Mutual Fund Tax Income | 28,408 |
|
| 28,408 |
|
| — |
|
| — |
| Common Collective Funds:1 |
|
|
|
|
|
|
|
|
|
|
| Capital Preservation Fund | 17,712 |
|
| — |
|
| 17,712 |
|
| — |
| Total | $ | 108,661 |
|
| $ | 90,949 |
|
| $ | 17,712 |
|
| $ | — |
|
1The Collective Trust Funds are valued by applying each plan's ownership percentage in the fund to the fund's net assets at fair value at the valuation date. |
Schedule Of Allocation Of Plan Assets | The Company’s pension plans’ weighted-average asset allocations at April 30, 2016 and 2015, by asset category, were as follows: | | | | | | | | PLAN ASSET ALLOCATION | | 2016 |
| 2016 |
| 2015 | APRIL 30 | TARGET |
| ACTUAL |
| ACTUAL |
|
|
|
|
|
| Equity Funds | 50.0 % |
| 57.0 % |
| 58.0 % | Fixed Income Funds | 50.0 % |
| 43.0 % |
| 42.0 % | Total | 100.0 % |
| 100.0 % |
| 100.0 % |
|