Quarterly report pursuant to Section 13 or 15(d)

Deferred Compensation and Retirement Plans (Tables)

v3.22.2.2
Deferred Compensation and Retirement Plans (Tables)
 3 Months Ended
Jul. 31, 2022
Compensation And Retirement Disclosure [Abstract]  
Components of Net Periodic Benefits Costs

The components of net periodic benefit costs are as follows:

 

 

Three Months Ended

July 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Service cost

 

$

9,143

 

 

$

8,679

 

Interest cost

 

 

2,387

 

 

 

1,019

 

Amortization of actuarial loss

 

 

218

 

 

 

543

 

Expected return on plan assets (1)

 

 

(289

)

 

 

(387

)

Net periodic service credit amortization

 

 

(101

)

 

 

(101

)

Net periodic benefit costs (2)

 

$

11,358

 

 

$

9,753

 

 

 

(1)

The expected long-term rate of return on plan assets was 5.50% and 6.00% for July 31, 2022 and 2021, respectively.

(2)

The service cost, interest cost and the other components of net periodic benefit costs are included in compensation and benefits expense, interest expense, net and other income, net, respectively, on the consolidated statements of income.