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Retirement Plans (Tables)
 12 Months Ended
Apr. 30, 2016
Retirement Plans [Abstract]  
Components of Net Periodic Pension Expense for Defined Benefit Plans and Weighted-Average Assumptions
The components of net pension expense for the defined benefit plans and the weighted-average assumptions were as follows (in thousands):
 
                  2016
 
                  2015
 
                 2014
 
U.S.
 Non-U.S.
 
U.S.
Non-U.S.
 
U.S.
Non-U.S.
Service Cost
 $       -
$1,455
 
 $       -
$5,942
 
 $       -
$8,066
Interest Cost
13,612
16,446
 
13,159
17,417
 
12,613
17,144
Expected Return on Plan Assets
(14,756)
(25,088)
 
(13,782)
(22,654)
 
(14,838)
(21,607)
Net Amortization of Prior Service Cost and Transition Asset
(154)
55
 
(115)
68
 
-
124
Recognized Net Actuarial Loss
2,240
2,475
 
1,470
6,299
 
5,681
7,490
Curtailment/Settlement Loss (Gain)
1,857
-
 
-
(428)
 
-
79
Net Pension Charge (Credit)
$2,799
$(4,657)
 
$732
$6,644
 
$3,456
$11,296
                 
Discount Rate
4.2%
3.5%
 
4.7%
4.2%
 
4.2%
4.2%
Rate of Compensation Increase
N/A
3.0%
 
N/A
3.2%
 
N/A
3.2%
Expected Return on Plan Assets
6.8%
6.7%
 
6.8%
6.7%
 
8.0%
6.7%
Amounts in Accumulated Other Comprehensive Loss to Be Recognized as Components of Net Periodic Benefit Cost During Next Fiscal Year
The amounts in Accumulated Other Comprehensive Loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year are as follows (in thousands):
 
 
 
U.S.
Non-U.S.
Total
 
Actuarial Loss
$2,712
$2,819
$5,531
 
Prior Service Cost
(154)
56
(98)
 
Total
$2,558
$2,875
$5,433
Changes in and Status of Plans' Assets and Benefit Obligations
The following table sets forth the changes in and the status of the Company’s defined benefit plans’ assets and benefit obligations:
 
Dollars in thousands
2016
2015
CHANGE IN PLAN ASSETS
U.S.
Non-U.S.
U.S.
Non-U.S.
Fair Value of Plan Assets, Beginning of Year
$222,966
$376,576
$207,986
$351,092
Actual Return on Plan Assets
2,610
(2,789)
23,166
60,997
Employer Contributions
9,459
8,450
3,972
9,701
Employee Contributions
-
68
-
1,566
Settlements
(4,446)
-
-
(2,353)
Benefits Paid
(14,666)
(14,354)
(12,158)
(7,118)
Foreign Currency Rate Changes
-
(15,467)
-
(37,309)
Fair Value, End of Year
$215,923
$352,484
$222,966
$376,576
CHANGE IN PROJECTED BENEFIT OBLIGATION
 
 
 
 
Benefit Obligation, Beginning of Year
$(329,388)
$(484,458)
$(285,659)
$(442,703)
Service Cost
-
(1,455)
-
(5,942)
Interest Cost
(13,612)
(16,446)
(13,159)
(17,417)
Employee Contributions
-
(68)
-
(1,566)
Actuarial Gain (Loss)
(13,020)
9,582
(45,868)
(83,782)
Benefits Paid
14,666
14,354
12,158
7,118
Foreign Currency Rate Changes
-
17,330
-
52,513
Curtailment
-
-
-
5,147
Settlements and Other
4,446
-
3,140
2,174
Benefit Obligation, End of Year
$(336,908)
$(461,161)
$(329,388)
$(484,458)
Funded Status
$(120,985)
$(108,677)
$(106,422)
$(107,882)
AMOUNTS RECOGNIZED IN THE STATEMENT OF FINANCIAL POSITION:
 
 
 
Other Noncurrent Assets
-
-
-
17
Current Pension Liability
(4,817)
(675)
(4,086)
(508)
Noncurrent Pension Liability
(116,168)
(108,002)
(102,336)
(107,391)
 Net Amount Recognized in Statement of Financial Position
$(120,985)
$(108,677)
$(106,422)
$(107,882)
AMOUNTS RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS (before tax) CONSIST OF:
 
Net Actuarial (Loss)
$(124,087)
$(139,307)
$(103,017)
$(128,280)
Prior Service Cost Gain (Loss)
2,870
(521)
3,024
(555)
Total Accumulated Other Comprehensive Loss
$(121,217)
$(139,828)
$(99,993)
$(128,835)
Change in Accumulated Other Comprehensive  Loss
$(21,224)
$(10,993)
$(31,988)
$(20,329)
WEIGHTED AVERAGE ASSUMPTIONS USED IN DETERMINING ASSETS AND LIABILITIES:
Discount Rate
4.0%
3.5%
4.2%
3.5%
Rate of Compensation Increase
N/A
3.0%
N/A
3.0%
Accumulated Benefit Obligations
$(336,908)
$(422,861)
$(329,389)
$(444,561)
Pension Plan Assets at Fair Value by Level Within Fair Value Hierarchy
The Company did not maintain any level 3 assets during fiscal years 2016 and 2015. The following tables set forth, by level within the fair value hierarchy, pension plan assets at their fair value as of April 30 (in thousands):
 
 
                        2016
 
                          2015
 
Level 1
Level 2
Total
 
Level 1
Level 2
Total
U.S. Plan Assets
             
Equity Securities:
             
U.S. Commingled Funds
$         -
$69,550
$69,550
 
$         -
$68,671
$68,671
Non-U.S. Commingled Funds
-
28,741
28,741
 
-
38,336
38,336
Fixed Income Commingled Funds
-
105,841
105,841
 
-
105,363
105,363
Real Estate
-
11,791
11,791
 
-
10,596
10,596
Total U.S. Plan Assets
$         -
$215,923
$215,923
 
$         -
$222,966
$222,966
               
Non-U.S. Plan Assets
             
Equity Securities:
             
U.S. Equities
$         -
$24,688
$24,688
 
$         -
$25,551
$25,551
Non-U.S. Equities
-
72,892
72,892
 
-
80,014
80,014
Balanced Managed Funds
10,070
32,203
42,273
 
10,295
66,707
77,002
Fixed Income Funds:
-
211,561
211,561
 
-
190,344
190,344
Other:
             
Real Estate/Other
-
508
508
 
-
489
489
Cash and Cash Equivalents
562
-
562
 
3,176
-
3,176
Total Non-U.S. Plan Assets
$10,632
$341,852
$352,484
 
$13,471
$363,105
$376,576
Total Plan Assets
$10,632
$557,775
$568,407
 
$13,471
$586,071
$599,542