Pensions and Other Post-Retirement Benefits (Tables)

12 Months Ended

Apr. 27, 2011

Pensions and Other Post-Retirement Benefits (Tables) [Abstract]

Change in benefit obligation and plan assets

	Pension Benefits						Other Retiree Benefits
	2011			2010			2011			2010
	(Dollars in thousands)
Change in Benefit Obligation:
Benefit obligation at the beginning of the year	$	2,585,984		$	2,230,102		$	235,297		$	234,175
Service cost		32,329			30,486			6,311			5,999
Interest cost		142,133			149,640			12,712			15,093
Participants’ contributions		2,444			2,674			822			905
Amendments		377			5,807			(3,710	)		(21,115	)
Actuarial (gain)/loss		(8,457	)		238,168			(3,786	)		9,672
Divestitures		—			(413	)		—			—
Settlement		(3,275	)		(4,663	)		—			—
Curtailment		—			(3,959	)		—			—
Benefits paid		(159,307	)		(156,807	)		(16,986	)		(18,395	)
Exchange/other		173,088			94,949			3,770			8,963
Benefit obligation at the end of the year	$	2,765,316		$	2,585,984		$	234,430		$	235,297
Change in Plan Assets:
Fair value of plan assets at the beginning of the year	$	2,869,971		$	1,874,702		$	—		$	—
Actual return on plan assets		318,494			561,997			—			—
Divestitures		—			(413	)		—			—
Settlement		(3,275	)		(4,663	)		—			—
Employer contribution		22,411			539,939			16,164			17,490
Participants’ contributions		2,444			2,674			822			905
Benefits paid		(159,307	)		(156,807	)		(16,986	)		(18,395	)
Exchange		211,143			52,542			—			—
Fair value of plan assets at the end of the year		3,261,881			2,869,971			—			—
Funded status	$	496,565		$	283,987		$	(234,430	)	$	(235,297	)

Benefit obligation recognized in consolidated balance sheet

	Pension Benefits						Other Retiree Benefits
	2011			2010			2011			2010
	(Dollars in thousands)
Other non-current assets	$	644,598		$	424,554		$	—		$	—
Other accrued liabilities		(31,589	)		(12,842	)		(18,259	)		(18,874	)
Other non-current liabilities		(116,444	)		(127,725	)		(216,171	)		(216,423	)
Net amount recognized	$	496,565		$	283,987		$	(234,430	)	$	(235,297	)

Components of net periodic benefit cost

	Pension Benefits									Other Retiree Benefits
	2011			2010			2009			2011			2010			2009
	(Dollars in thousands)
Components of defined benefit net periodic benefit cost:
Service cost	$	32,329		$	30,486		$	33,321		$	6,311		$	5,999		$	6,501
Interest cost		142,133			149,640			143,601			12,712			15,093			15,357
Expected return on assets		(229,258	)		(211,408	)		(207,774	)		—			—			—
Amortization of:
Prior service cost/(credit)		2,455			2,173			3,182			(5,155	)		(3,796	)		(3,812	)
Net actuarial loss		77,687			53,882			33,206			1,604			540			3,681
Loss due to curtailment, settlement and special termination benefits		2,039			612			635			—			—			—
Net periodic benefit cost		27,385			25,385			6,171			15,472			17,836			21,727
Defined contribution plans		49,089			47,356			36,404			—			—			—
Total cost		76,474			72,741			42,575			15,472			17,836			21,727
Less periodic benefit cost associated with discontinued operations		—			618			1,376			—			—			—
Periodic benefit cost associated with continuing operations	$	76,474		$	72,123		$	41,199		$	15,472		$	17,836		$	21,727

Accumulated other comprehensive loss before tax

	Pension Benefits				Other Retiree Benefits
	2011		2010		2011			2010
	(Dollars in thousands)
Net actuarial loss	$	909,796	$	1,085,471	$	11,816		$	17,206
Prior service cost/(credit)		28,649		30,683		(20,335	)		(21,780	)
Net amount recognized	$	938,445	$	1,116,154	$	(8,519	)	$	(4,574	)

Accumulated other comprehensive loss (income) expected to be recognized as components of net periodic benefit costs/(credits)

	Pension Benefits				Other Retiree Benefits
	2011		2010		2011			2010
	(Dollars in thousands)
Net actuarial loss	$	85,932	$	76,963	$	1,095		$	1,604
Prior service cost/(credit)		2,020		2,373		(6,116	)		(5,155	)
Net amount recognized	$	87,952	$	79,336	$	(5,021	)	$	(3,551	)

Weighted average rates used for determining the projected benefit obligations

	Pension Benefits						Other Retiree Benefits
	2011			2010			2011			2010
Discount rate		5.5	%		5.6	%		5.0	%		5.5	%
Compensation increase rate		3.8	%		4.0	%		—			—

Weighted average rates used for determining the defined benefit plans

	Pension Benefits									Other Retiree Benefits
	2011			2010			2009			2011			2010			2009
Expected rate of return		8.2	%		8.1	%		8.2	%		—			—			—
Discount rate		5.6	%		6.5	%		6.1	%		5.5	%		6.4	%		5.9	%
Compensation increase rate		4.0	%		4.3	%		4.5	%		—			—			—

One-percentage-point change

	1% Increase		1% Decrease
	(Dollars in thousands)
Effect on total service and interest cost components	$	1,632	$	1,472
Effect on postretirement benefit obligations	$	15,831	$	14,417

Weighted average asset allocation

							Target
	Plan Assets at						Allocation at
Asset Category	2011			2010			2011			2010
Equity securities		62	%		58	%		58	%		63	%
Debt securities		32	%		29	%		32	%		35	%
Real estate		3	%		1	%		9	%		1	%
Other(1)		3	%		12	%		1	%		1	%
		100	%		100	%		100	%		100	%

(1) Plan assets at April 28, 2010 in the Other asset category include 11% of cash which reflects significant cash contributions to the pension plans prior to the end of fiscal year 2010.

Direct cash holdings and institutional short term investment vehicles

	April 27, 2011
Asset Category	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Equity Securities	$	863,404	$	—	$	—	$	863,404
Equity Securities (mutual and pooled funds)		157,296		1,005,678		—		1,162,974
Fixed Income Securities		53,381		966,157		9,649		1,029,187
Other Investments		—		—		131,095		131,095
Cash and Cash Equivalents		16,270		58,951		—		75,221
Total	$	1,090,351	$	2,030,786	$	140,744	$	3,261,881

	April 28, 2010
Asset Category	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Equity Securities	$	894,684	$	—	$	—	$	894,684
Equity Securities (mutual and pooled funds)		122,753		641,727		—		764,480
Fixed Income Securities		49,951		785,924		8,646		844,521
Other Investments		—		7,491		35,569		43,060
Cash and Cash Equivalents		14,260		308,966		—		323,226
Total	$	1,081,648	$	1,744,108	$	44,215	$	2,869,971

Changes in fair value of Pension plan level 3 assets

													Fair
	Fair Value												Value
	April 28,							Realized		Unrealized			April 27,
	2010		Acquisitions		Dispositions			Gain/(Loss)		Gain/(Loss)			2011
	(Dollars in thousands)
Fixed Income Securities	$	8,646	$	—	$	—		$	—	$	1,003		$	9,649
Other Investments		35,569		95,518		(619	)		2,727		(2,100	)		131,095
Total	$	44,215	$	95,518	$	(619	)	$	2,727	$	(1,097	)	$	140,744

														Fair
	Fair Value													Value
	April 29,							Realized			Unrealized			April 28,
	2009		Acquisitions		Dispositions			Gain/(Loss)			Gain/(Loss)			2010
	(Dollars in thousands)
Fixed Income Securities	$	8,873	$	—	$	(1,500	)	$	246		$	1,027		$	8,646
Other Investments		38,306		3,362		(2,658	)		(2,627	)		(814	)		35,569
Total	$	47,179	$	3,362	$	(4,158	)	$	(2,381	)	$	213		$	44,215

Benefit payment expected in future years

			Other
	Pension		Retiree
	Benefits		Benefits
	(Dollars in thousands)
2012	$	201,912	$	18,259
2013	$	189,005	$	18,679
2014	$	192,729	$	19,237
2015	$	188,400	$	19,599
2016	$	192,655	$	20,115
Years 2017-2021	$	1,008,931	$	103,641