Retirement Benefit

3 Months Ended

May 25, 2012

Retirement and Postretirement Benefit Plans [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 25, 2012			May 27, 2011			May 25, 2012			May 27, 2011
Service cost	$	334		$	204		$	213		$	363
Interest cost		1,844			2,146			800			1,210
Expected return on plan assets		(1,613	)		(1,672	)		(840	)		(1,098	)
Amortization of prior service cost (credit)		61			59			(519	)		(638	)
Amortization of actuarial loss		816			569			—			—
	$	1,442		$	1,306		$	(346	)	$	(163	)

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 25, 2012 was $3.0 million, compared to $3.7 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 $1.3 million and $1.4 million for the three months ended May 25, 2012 and May 27, 2011, 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 25, 2012, February 29, 2012 and May 27, 2011, the liability for postretirement benefits other than pensions was $26.2 million, $24.8 million and $25.6 million, respectively, and is included in “Other liabilities” on the Consolidated Statement of Financial Position. At May 25, 2012, February 29, 2012 and May 27, 2011, the long-term liability for pension benefits was $75.6 million, $75.7 million and $59.9 million, respectively, and is included in “Other liabilities” on the Consolidated Statement of Financial Position.