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Employee Benefit Plans (Disclosure)
6 Months Ended
Apr. 30, 2014
Pension Plans and Postretirement Plans Disclosure [Abstract]  
Pension And Other Postretirement Benefits Disclosure Text Block

10.       Employee Benefit Plans

 

Components of the net periodic benefit cost for our defined benefit pension plans and our other postretirement employee benefits (OPEB) plan for the three months ended April 30, 2014 and 2013 are presented below.

 Qualified Pension Nonqualified Pension Other Benefits
In thousands 2014  2013  2014  2013  2014  2013
                  
Service cost$ 2,750 $ 3,150 $ - $ - $ 277 $ 332
Interest cost  2,950   2,475   45   40   362   282
Expected return                 
on plan assets  (5,700)   (5,300)   -   -   (457)   (416)
Amortization of                 
transition obligation  -   -   -   -   -   167
Amortization of prior                 
service (credit) cost   (550)   (550)   20   20   -   -
Amortization of actuarial                 
loss  1,875   2,750   12   40   -   -
Total$ 1,325 $ 2,525 $ 77 $ 100 $ 182 $ 365

Components of the net periodic benefit cost for our defined benefit pension plans and our OPEB plan for the six months ended April 30, 2014 and 2013 are presented below.

 Qualified Pension Nonqualified Pension Other Benefits
In thousands 2014  2013  2014  2013  2014  2013
                  
Service cost$ 5,500 $ 6,300 $ - $ - $ 554 $ 663
Interest cost  5,900   4,950   90   79   724   565
Expected return                 
on plan assets  (11,400)   (10,600)   -   -   (915)   (832)
Amortization of                 
transition obligation  -   -   -   -   -   334
Amortization of prior                 
service (credit) cost   (1,100)   (1,100)   41   40   -   -
Amortization of actuarial                 
loss  3,750   5,500   23   80   -   -
Total$ 2,650 $ 5,050 $ 154 $ 199 $ 363 $ 730

In November 2013, we contributed $20 million to the qualified pension plan, and in January 2014, we contributed $.9 million to the money purchase pension plan. During the six months ended April 30, 2014, we contributed $.2 million to the nonqualified pension plans. We anticipate that we will contribute the following amounts to our plans in 2014.

In thousands   
    
Nonqualified pension plans $ 232
OPEB plan  1,500

We have a non-qualified defined contribution restoration plan (DCR plan) for all officers at the vice president level and above where benefits payable under the plan are informally funded annually through a rabbi trust with a bank as the trustee. For the six months ended April 30, 2014, we contributed $.5 million to this plan. Participants may not contribute to the DCR plan. We have a voluntary deferral plan for the benefit of all director-level employees and officers, where we make no contributions to this plan. Both deferred compensation plans are funded through rabbi trusts with a bank as the trustee. As of April 30, 2014, we have a liability of $4 million for these plans.

 

See Note 7 and Note 8 to the condensed consolidated financial statements in this Form 10-Q for information on the investments in marketable securities that are held in the trusts.