Pensions and Other Postretirement Benefits

9 Months Ended

Jan. 27, 2013

Compensation and Retirement Disclosure [Abstract]

Pensions and Other Postretirement Benefits

Pensions and Other Post-Retirement Benefits

The components of net periodic benefit cost are as follows:

	Third Quarter Ended
	January 27, 2013			January 25, 2012			January 27, 2013			January 25, 2012
	Pension Benefits						Other Retiree Benefits
	(In thousands)
Service cost	$	7,990		$	8,262		$	1,628		$	1,478
Interest cost	33,503			34,273			2,487			2,844
Expected return on plan assets	(63,500		)	(57,665		)	—			—
Amortization of prior service cost/(credit)	639			493			(1,544		)	(1,533		)
Amortization of unrecognized loss	19,151			20,691			451			274
Settlements	3,116			—			—			—
Net periodic benefit expense	$	899		$	6,054		$	3,022		$	3,063

	Nine Months Ended
	January 27, 2013			January 25, 2012			January 27, 2013			January 25, 2012
	Pension Benefits						Other Retiree Benefits
	(In thousands)
Service cost	$	23,793		$	25,318		$	4,875		$	4,475
Interest cost	99,756			104,759			7,452			8,591
Expected return on plan assets	(189,130		)	(176,202		)	—			—
Amortization of prior service cost/(credit)	1,912			1,486			(4,633		)	(4,595		)
Amortization of unrecognized loss	57,235			62,857			1,352			821
Settlements	4,463			—			—			—
Net periodic benefit (income)/expense	$	(1,971	)	$	18,218		$	9,046		$	9,292

The amounts recognized for pension benefits as other non-current assets on the Company's condensed consolidated balance sheets were $492.4 million as of January 27, 2013 and $399.9 million as of April 29, 2012.

During the first nine months of Fiscal 2013, the Company contributed $53 million to these defined benefit plans. On July 6, 2012, Congress passed the Moving Ahead for Progress in the 21st Century Act, which included pension funding stabilization provisions.  The measure, which is designed to stabilize the discount rate used to determine the funding requirements from the effects of interest rate volatility, will serve to preserve existing credit balances in the Heinz U.S. funded defined benefit pension plans.  The Company expects to make combined cash contributions of approximately $75 million in Fiscal 2013, none of which relate to these U.S. funded defined benefit pension plans.  However, actual contributions may be affected by pension asset and liability valuations during the year.