Rendering

Component: (Network and Table)
Network
138 - Disclosure - BENEFIT PLANS: (Tables)
(http://www.amrepcorp.com/role/BenefitPlansTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]Period [Axis]
2015-05-01 - 2016-04-30
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
 
Schedule of Net Benefit Costs [Table Text Block]
Net periodic pension cost for 2016 and 2015 was comprised of the following components (in thousands):
 
 
 
Year Ended April 30,
 
 
 
2016
 
2015
 
 
 
 
 
 
 
 
 
Interest cost on projected benefit obligation
 
$
1,284
 
$
1,370
 
Expected return on assets
 
 
(2,051)
 
 
(2,230)
 
Plan expenses
 
 
251
 
 
247
 
Recognized net actuarial loss
 
 
1,534
 
 
1,257
 
Settlement loss
 
 
-
 
 
1,067
 
Total cost recognized in pretax income
 
 
1,018
 
 
1,711
 
Cost recognized in pretax other comprehensive income
 
 
434
 
 
2,674
 
Net periodic pension cost
 
$
1,452
 
$
4,385
 
 
 
Schedule of Assumptions Used [Table Text Block]
The estimated net loss, transition obligation and prior service cost for the pension plan that will be amortized from accumulated other comprehensive income into net periodic pension cost over the next fiscal year are $1,603,000, $0 and $0. Assumptions used in determining net periodic pension cost and the benefit obligation were:
 
 
 
Year Ended April 30,
 
 
 
2016
 
 
2015
 
 
 
 
 
 
 
 
 
 
Discount rate used to determine net periodic pension cost
 
 
3.48
%
 
 
3.90
%
Discount rate used to determine pension benefit obligation
 
 
3.27
%
 
 
3.48
%
Expected long-term rate of return on assets
 
 
8.00
%
 
 
8.00
%
 
 
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The following table sets forth changes in the pension plan’s benefit obligation and assets, and summarizes components of amounts recognized in the Company’s consolidated balance sheet (in thousands):
 
 
 
April 30,
 
 
 
2016
 
2015
 
Change in benefit obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of year
 
$
38,303
 
$
36,469
 
Interest cost
 
 
1,284
 
 
1,370
 
Actuarial (gain) loss
 
 
(750)
 
 
5,098
 
Benefits paid
 
 
(2,419)
 
 
(4,634)
 
Benefit obligation at end of year
 
$
36,418
 
$
38,303
 
 
 
 
 
 
 
 
 
Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
 
$
27,044
 
$
29,120
 
Company contributions
 
 
-
 
 
475
 
Actual return on plan assets
 
 
(620)
 
 
2,334
 
Benefits paid
 
 
(2,419)
 
 
(4,634)
 
Plan expenses
 
 
(297)
 
 
(251)
 
Fair value of plan assets at end of year
 
$
23,708
 
$
27,044
 
Underfunded status:
 
$
(12,710)
 
$
(11,259)
 
 
 
 
 
 
 
 
 
Recognition of underfunded status:
 
 
 
 
 
 
 
Accrued pension cost
 
$
(12,710)
 
$
(11,259)
 
 
 
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block]
The funded status of the pension plan is equal to the net liability recognized in the consolidated balance sheet. The following table summarizes the amounts recorded in accumulated other comprehensive loss, which have not yet been recognized as a component of net periodic pension costs (in thousands):
 
 
 
Year Ended April 30,
 
 
 
2016
 
2015
 
Pretax accumulated comprehensive loss
 
$
18,061
 
$
17,627
 
 
 
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
The following table summarizes the changes in accumulated other comprehensive loss related to the pension plan for the years ended April 30, 2016 and 2015 (in thousands):
 
 
 
Pension Benefits
 
 
 
Pretax
 
Net of Tax
 
 
 
 
 
 
 
 
 
Accumulated comprehensive loss, May 1, 2014
 
$
14,953
 
$
9,175
 
Net actuarial gain
 
 
4,998
 
 
3,099
 
Recognition of settlement loss
 
 
(1,067)
 
 
(662)
 
Amortization of net loss
 
 
(1,257)
 
 
(779)
 
Accumulated comprehensive loss, April 30, 2015
 
 
17,627
 
 
10,833
 
Net actuarial loss
 
 
1,968
 
 
1,220
 
Amortization of net loss
 
 
(1,534)
 
 
(952)
 
Accumulated comprehensive loss, April 30, 2016
 
$
18,061
 
$
11,101
 
 
 
Schedule of Allocation of Plan Assets [Table Text Block]
The average asset allocation for the pension plan by asset category was as follows:
 
 
 
April 30,
 
 
 
2016
 
 
2015
 
Equity securities
 
 
67
%
 
 
69
%
Fixed income securities
 
 
28
 
 
 
29
 
Other (principally cash and cash equivalents)
 
 
5
 
 
 
2
 
Total
 
 
100
%
 
 
100
%
 
 
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
The following tables set forth by level within the fair value hierarchy the pension plan’s assets at fair value as of April 30, 2016 and 2015 (in thousands):
 
2016:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Cash and cash equivalents
 
$
1,171
 
$
1,171
 
$
-
 
$
-
 
Investments at fair value:
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity securities
 
 
15,878
 
 
15,878
 
 
-
 
 
-
 
Corporate bonds and debentures
 
 
6,663
 
 
-
 
 
6,663
 
 
-
 
Total assets at fair value
 
$
23,712
 
$
17,049
 
$
6,663
 
$
-
 
 
2015:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Cash and cash equivalents
 
$
675
 
$
675
 
$
-
 
$
-
 
Investments at fair value:
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity securities
 
 
18,634
 
 
18,634
 
 
-
 
 
-
 
Corporate bonds and debentures
 
 
7,735
 
 
-
 
 
7,735
 
 
-
 
Total assets at fair value
 
$
27,044
 
$
19,309
 
$
7,735
 
$
-
 
 
 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]
A summary of the 2015 and 2016 restricted share award activity presented below represents the maximum number of shares that could be vested:
 
Restricted time-based share awards
 
Number of
Shares
 
Weighted Average
Grant Date
Fair Value
 
Non-vested at April 30, 2014
 
 
24,000
 
$
6.96
 
Granted during 2015
 
 
12,000
 
 
6.90
 
Vested during 2015
 
 
(8,000)
 
 
6.80
 
Forfeited during 2015
 
 
-
 
 
-
 
Non-vested at April 30, 2015
 
 
28,000
 
 
6.98
 
 
 
 
 
 
 
 
 
Granted during 2016
 
 
3,000
 
 
5.22
 
Vested during 2016
 
 
(12,000)
 
 
6.94
 
Forfeited during 2016
 
 
-
 
 
-
 
Non-vested at April 30, 2016
 
 
19,000
 
$
6.66