Retirement Benefits

9 Months Ended

Nov. 25, 2011

Retirement Benefits [Abstract]

Retirement Benefits

Note 14—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
	Three Months Ended						Nine Months Ended
	November 25,			November 26,			November 25,			November 26,
(In thousands)	2011			2010			2011			2010
Service cost	$	206		$	214		$	621		$	715
Interest cost		2,127			2,216			6,418			6,634
Expected return on plan assets		(1,655	)		(1,660	)		(4,998	)		(4,973	)
Amortization of prior service cost		61			50			184			138
Amortization of actuarial loss		557			529			1,684			1,579
	$	1,296		$	1,349		$	3,909		$	4,093

	Postretirement Benefit
	Three Months Ended						Nine Months Ended
	November 25,			November 26,			November 25,			November 26,
(In thousands)	2011			2010			2011			2010
Service cost	$	363		$	575		$	1,088		$	1,725
Interest cost		1,210			1,550			3,630			4,650
Expected return on plan assets		(1,098	)		(1,125	)		(3,293	)		(3,375	)
Amortization of prior service credit		(638	)		(1,850	)		(1,913	)		(5,550	)
Amortization of actuarial loss		—			250			—			750
	$	(163	)	$	(600	)	$	(488	)	$	(1,800	)

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 nine months ended November 25, 2011 was $6.3 million, compared to $7.4 million in the prior year period. The Corporation also matches a portion of 401(k) employee contributions. The expenses recognized for the three and nine month periods ended November 25, 2011 were $1.9 million and $4.5 million ($1.0 million and $3.1 million for the three and nine month periods ended November 26, 2010), respectively. The profit-sharing plan and 401(k) matching expenses for the nine month periods are estimates as actual contributions are determined after fiscal year-end.

At November 25, 2011, February 28, 2011 and November 26, 2010, the liability for postretirement benefits other than pensions was $29.9 million, $24.1 million and $51.3 million, respectively, and is included in “Other liabilities” on the Consolidated Statement of Financial Position. At November 25, 2011, February 28, 2011 and November 26, 2010, the long-term liability for pension benefits was $59.8 million, $60.1 million and $59.3 million, respectively, and is included in “Other liabilities” on the Consolidated Statement of Financial Position.