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Pensions and Other Postretirement Benefits
 3 Months Ended
Jul. 31, 2024
Retirement Benefits [Abstract]  
Pensions and Other Postretirement Benefits
The following table summarizes our net periodic benefit cost for defined benefit pension and other postretirement benefit plans.
Three Months Ended July 31,
 Defined Benefit Pension PlansOther Postretirement Benefits
 2024202320242023
Service cost$0.1 $0.2 $0.2 $0.2 
Interest cost4.4 4.6 0.7 0.6 
Expected return on plan assets(3.1)(4.1)— — 
Amortization of net actuarial loss (gain)1.1 0.9 (0.5)(0.4)
Amortization of prior service cost (credit)0.1 0.1 (0.2)(0.1)
Settlement loss (gain)— 3.2 — — 
Net periodic benefit cost$2.6 $4.9 $0.2 $0.3 
In 2021, we transferred obligations related to our Canadian defined benefit pension plan to an insurance company through the purchase of an irrevocable group annuity contract (the “Canadian Buy-Out Contract”). The group annuity contract was purchased using assets from the pension trust. During the first quarter of 2024, we received corporate approval to proceed with distribution of the surplus that remains within the Canadian defined benefit pension plan. As a result, we recognized a noncash pre-tax settlement charge of $3.2 related to the acceleration of prior service cost for the portion of the plan surplus to be allocated to plan members, which is subject to regulatory approval before a payout can be made. The settlement charge was included within other income (expense) – net in the Condensed Statement of Consolidated Income. We did not recognize any charges related to the Canadian Buy-Out Contract during the three months ended July 31, 2024.

We made direct benefit payments of $0.7 for both the three months ended July 31, 2024 and 2023.