Retirement Benefits

3 Months Ended

May 27, 2011

Retirement Benefits [Abstract]

Retirement Benefits

Note 11 — Retirement Benefits

The components of periodic benefit cost for the Corporation’s defined benefit pension and postretirement benefit plans are as follows:

	Defined Benefit Pension						Postretirement Benefit
	Three Months Ended						Three Months Ended
(In thousands)	May 27, 2011			May 28, 2010			May 27, 2011			May 28, 2010
Service cost	$	204		$	251		$	363		$	575
Interest cost		2,146			2,213			1,210			1,550
Expected return on plan assets		(1,672	)		(1,660	)		(1,098	)		(1,125	)
Amortization of prior service cost (credit)		59			44			(638	)		(1,850	)
Amortization of actuarial loss		569			526			—			250
	$	1,306		$	1,374		$	(163	)	$	(600	)

The Corporation has a discretionary profit-sharing plan with a 401(k) provision covering most of its United States employees. The profit-sharing plan expense for the three months ended May 27, 2011 was $3.7 million, compared to $3.5 million in the prior year period. The Corporation also matches a portion of 401(k) employee contributions. The expense recognized for the 401(k) match was $1.4 million and $1.1 million for the three months ended May 27, 2011 and May 28, 2010, respectively. The profit-sharing plan and 401(k) matching expenses for the three month periods are estimates as actual contributions are determined after fiscal year-end.

At May 27, 2011, February 28, 2011 and May 28, 2010, the liability for postretirement benefits other than pensions was $25.6 million, $24.1 million and $46.8 million, respectively, and is included in “Other liabilities” on the Consolidated Statement of Financial Position. At May 27, 2011, February 28, 2011 and May 28, 2010, the long-term liability for pension benefits was $59.9 million, $60.1 million and $58.7 million, respectively, and is included in “Other liabilities” on the Consolidated Statement of Financial Position.