Annual report pursuant to Section 13 and 15(d)

Deferred Compensation and Retirement Plans (Tables)

v2.4.0.6
Deferred Compensation and Retirement Plans (Tables)
 12 Months Ended
Apr. 30, 2013
Total Benefit Obligations

The total benefit obligations for these plans were as follows:

 

     Year Ended April 30,  
     2013     2012  
     (in thousands)  

Deferred compensation plans

    $ 85,562      $ 78,479   

Pension plan

      4,536        4,214   

International retirement plans

      3,646        2,776   

Executive Capital Accumulation Plan

      75,913        71,134   
  

 

 

    

 

 

  

Total benefit obligations

      169,657        156,603   

Less: current portion of benefit obligation

      (9,951 )      (14,026 ) 
  

 

 

    

 

 

  

Non-current benefit obligation

    $ 159,706      $ 142,577   
  

 

 

    

 

 

  
Deferred Compensation Plan
  
Reconciliation Of Benefit Obligation

The following tables reconcile the benefit obligation for the deferred compensation plans:

 

     Year Ended April 30,  
     2013     2012     2011  
     (in thousands)  

Change in benefit obligation:

       

Benefit obligation, beginning of year

    $ 78,479      $ 70,319      $ 64,890   

Service cost

      —          —          137   

Interest cost

      2,868        3,346        3,495   

Plan participants’ contributions with interest

      —          —          65   

Actuarial loss

      9,420        9,885        6,764   

Benefits paid

      (5,205 )      (5,071 )      (5,032 ) 
  

 

 

    

 

 

    

 

 

  

Benefit obligation, end of year

      85,562        78,479        70,319   

Less: current portion of benefit obligation

      (5,182 )      (4,959 )      (3,682 ) 
  

 

 

    

 

 

    

 

 

  

Non-current benefit obligation

    $ 80,380      $ 73,520      $ 66,637   
  

 

 

    

 

 

    

 

 

  
Components Of Net Periodic Benefit Costs

The components of net periodic benefits costs are as follows:

 

     Year Ended April 30,  
     2013      2012      2011  
     (in thousands)  

Service cost

    $ —         $ —         $ 137   

Interest cost

      2,868         3,346         3,495   

Amortization of actuarial loss

      2,357         1,374         422   
  

 

 

     

 

 

     

 

 

  

Net periodic benefit cost

    $ 5,225       $ 4,720       $ 4,054   
  

 

 

     

 

 

     

 

 

  
Weighted-Average Assumptions Used In Calculating The Benefit Obligation

The weighted-average assumptions used in calculating the benefit obligations were as follows:

 

     Year Ended April 30,  
     2013     2012     2011  

Discount rate, beginning of year

      3.79 %      4.94 %      5.61 % 

Discount rate, end of year

      3.12 %      3.79 %      4.94 % 

Rate of compensation increase

      0.00 %      0.00 %      0.00 % 
Pension Plans, Defined Benefit
  
Reconciliation Of Benefit Obligation

The following tables reconcile the benefit obligation for the pension plan:

 

     Year Ended April 30,  
     2013     2012     2011  
     (in thousands)  

Change in benefit obligation:

       

Benefit obligation, beginning of year

    $ 4,214      $ 3,952      $ 3,630   

Interest cost

      154        189        197   

Actuarial loss

      426        289        307   

Benefits paid

      (258 )      (216 )      (182 ) 
  

 

 

    

 

 

    

 

 

  

Benefit obligation, end of year

      4,536        4,214        3,952   

Less: current portion of benefit obligation

      (232 )      (212 )      (137 ) 
  

 

 

    

 

 

    

 

 

  

Non-current benefit obligation

    $ 4,304      $ 4,002      $ 3,815   
  

 

 

    

 

 

    

 

 

  
Components Of Net Periodic Benefit Costs

The components of net periodic benefits costs are as follows:

 

     Year Ended April 30,  
     2013      2012      2011  
     (in thousands)  

Interest cost

    $ 154       $ 189       $ 197   

Amortization of actuarial loss (gain)

      18         47         (2 ) 
  

 

 

     

 

 

     

 

 

  

Net periodic benefit cost

    $ 172       $ 236       $ 195   
  

 

 

     

 

 

     

 

 

  
Weighted-Average Assumptions Used In Calculating The Benefit Obligation

The weighted-average assumptions used in calculating the benefit obligations were as follows:

 

     Year Ended April 30,  
     2013     2012     2011  

Discount rate, beginning of year

      3.79 %      4.94 %      5.61 % 

Discount rate, end of year

      3.12 %      3.79 %      4.94 % 

Rate of compensation increase

      0.00 %      0.00 %      0.00 % 
Expected Benefit Payments Associated With Future Service

Benefit payments, which reflect expected future service, as appropriate, are expected to be paid over the next ten years as follows:

 

Year Ending April 30,

    Deferred
Compensation
Plans		      Pension
Benefits		  
     (in thousands)  

2014

    $ 6,602       $ 313   

2015

      6,515         319   

2016

      6,789         320   

2017

      6,520         316   

2018

      6,184         274   

2019-2023

      30,853         1,335   
Executive Capital Accumulation Plan
  
Reconciliation Of Benefit Obligation

Changes in the ECAP liability were as follows:

 

     Year Ended April 30,  
     2013     2012  
     (in thousands)  

Balance, beginning of year

    $ 71,134      $ 67,214   

Employee contributions

      1,943        3,483   

Amortization of employer contributions

      9,010        7,423   

Gain on investment

      6,281        884   

Employee distributions

      (12,244 )      (7,661 ) 

Exchange rate translations

      (211 )      (209 ) 
  

 

 

    

 

 

  

Balance, end of year

      75,913        71,134   

Less: current portion

      (4,537 )      (8,855 ) 
  

 

 

    

 

 

  

Non-current portion, end of year

    $ 71,376      $ 62,279