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Retirement Benefits (Tables)
 12 Months Ended
Apr. 30, 2020
Retirement Benefits [Abstract]  
Summary of Change in Projected Benefit Obligations and Change in Fair Value of Plan Assets
The change in projected benefit obligations and the change in fair value of plan assets for the non-contributory defined benefit pension plans for each of the years ended April 30 are summarized as follows:
$ in thousands
 
2020
 
2019
Accumulated Benefit Obligation, April 30
 
$
23,720

 
$
21,394

Change in Projected Benefit Obligations
 
 
 
 
Projected benefit obligations, beginning of year
 
$
21,394

 
$
21,544

Interest cost
 
832

 
859

Actuarial loss
 
2,769

 
412

Actual benefits paid
 
(1,275
)
 
(1,421
)
Projected benefit obligations, end of year
 
23,720

 
21,394

Change in Plan Assets
 
 
 
 
Fair value of plan assets, beginning of year
 
19,035

 
18,540

Actual return on plan assets
 
(444
)
 
916

Employer contributions
 
—

 
1,000

Actual benefits paid
 
(1,275
)
 
(1,421
)
Fair value of plan assets, end of year
 
17,316

 
19,035

Funded status—under
 
$
(6,404
)
 
$
(2,359
)
Amounts Recognized in the Consolidated Balance Sheets consist of:
 
 
 
 
Noncurrent liabilities
 
$
(6,404
)
 
$
(2,359
)
Amounts Recognized in Accumulated Other Comprehensive Income (Loss) Consist of:
 
 
 
 
Net actual loss
 
$
11,133

 
$
7,541

Deferred tax benefit
 
(2,616
)
 
(1,772
)
After-tax actuarial loss
 
$
8,517

 
$
5,769

Weighted-Average Assumptions Used to Determine Benefit Obligations at April 30
 
 
 
 
Discount rate
 
3.10
%
 
3.90
%
Rate of compensation increase
 
N/A

 
N/A

Mortality table
 
Pri-2012

 
RP-2014

Projection scale
 
MP-2019

 
MP-2018

$ in thousands
 
 
 
 
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost for Years Ended April 30
 
2020
 
2019
Discount rate
 
3.10
%
 
3.90
%
Expected long-term return on plan assets
 
7.75
%
 
7.75
%
Rate of compensation increase
 
N/A

 
N/A
Summary of Components of Net Periodic Pension Cost
The components of the net periodic pension expense for each of the fiscal years ended April 30 are as follows:
$ in thousands
 
2020
 
2019
Interest cost
 
$
832

 
$
859

Expected return on plan assets
 
(1,421
)
 
(1,448
)
Recognition of net loss
 
1,043

 
884

Net periodic pension expense
 
$
454

 
$
295
Summary of Expected Benefit Payments
The following benefit payments are expected to be paid from the benefit plans in the fiscal years ending April 30:
$ in thousands
 
Amount
2021
 
$
1,506

2022
 
1,521

2023
 
1,537

2024
 
1,575

2025
 
1,550

2026 & Beyond
 
7,321
Summary of Plan Assets by Asset Categories
Plan assets by asset categories as of April 30 were as follows:
$ in thousands
 
2020
 
2019
Asset Category
 
Amount
 
%
 
Amount
 
%
Equity Securities
 
$
10,797

 
62
 
$
14,085

 
74
Fixed Income Securities
 
5,377

 
31
 
4,754

 
25
Cash and Cash Equivalents
 
1,142

 
7
 
196

 
1
Totals
 
$
17,316

 
100
 
$
19,035

 
100
Summary of Fair Value Assets in Defined Benefit Pension Plans
The following tables present the fair value of the assets in our defined benefit pension plans at April 30:
 
 
2020
Asset Category
 
Level 1
 
Level 2
 
Level 3
Large Cap
 
$
5,831

 
$
—

 
$
—

Small/Mid Cap
 
2,121

 
—

 
—

International
 
1,850

 
—

 
—

Emerging Markets
 
483

 
—

 
—

Fixed Income
 
5,377

 
—

 
—

Liquid Alternatives
 
512

 
—

 
—

Cash and Cash Equivalents
 
1,142

 
—

 
—

Totals
 
$
17,316

 
$
—

 
$
—

 
 
2019
Asset Category
 
Level 1
 
Level 2
 
Level 3
Large Cap
 
$
7,783

 
$
—

 
$
—

Small/Mid Cap
 
3,160

 
—

 
—

International
 
2,054

 
—

 
—

Emerging Markets
 
580

 
—

 
—

Fixed Income
 
4,754

 
—

 
—

Liquid Alternatives
 
508

 
—

 
—

Cash and Cash Equivalents
 
196

 
—

 
—

Totals
 
$
19,035

 
$
—

 
$
—