Retirement and Welfare (Tables)

12 Months Ended

Apr. 26, 2014

Retirement and Welfare [Abstract]

Schedule of amounts recognized in accumulated other comprehensive loss

The changes in plan assets and benefit obligations were recognized in accumulated other comprehensive loss as follows (pre-tax) (for the fiscal years ended):

(Amounts in thousands)	4/26/2014			4/27/2013
Beginning of year net actuarial loss	$	48,745		$	45,270
Net current year actuarial (gain) loss		(5,932	)		6,499
Amortization of actuarial loss		(3,388	)		(3,024	)
End of year net actuarial loss	$	39,425		$	48,745

Schedule of net periodic pension cost

The combined net periodic pension cost and retirement costs for retirement plans related to continuing operations were as follows (for the fiscal years ended):

(Amounts in thousands)	4/26/2014			4/27/2013			4/28/2012
Service cost	$	1,241		$	1,231		$	1,110
Interest cost		4,822			5,325			5,565
Expected return on plan assets		(6,800	)		(6,855	)		(6,820	)
Net amortization and deferral		3,388			3,024			1,635
Net periodic pension cost (hourly plan)		2,651			2,725			1,490
401(k)*		5,802			5,198			2,473
PCRP*		2,513			—			—
Other*		223			191			107
Total retirement costs (excluding non-qualified defined benefit retirement plan)	$	11,189		$	8,114		$	4,070

*Not determined by an actuary

Schedule of changes in the benefit obligations and fair value of assets

The funded status of the defined benefit pension plan for eligible factory hourly employees was as follows:

(Amounts in thousands)	4/26/2014			4/27/2013
Change in benefit obligation
Benefit obligation at beginning of year	$	123,495		$	118,347
Service cost		1,241			1,231
Interest cost		4,822			5,325
Actuarial (gain) loss		(3,565	)		8,178
Benefits paid		(9,123	)		(9,586	)
Benefit obligation at end of year		116,870			123,495
Change in plan assets
Fair value of plan assets at beginning of year		111,430			89,002
Actual return on plan assets		9,494			9,060
Employer contributions	­—				23,480
Other expenses		(327	)		(526	)
Benefits paid		(9,123	)		(9,586	)
Fair value of plan assets at end of year		111,474			111,430
Funded status	$	(5,396	)	$	(12,065	)

Schedule of amounts recognized in balance sheet

Amounts included in the consolidated balance sheet related to the defined benefit pension plan for eligible factory hourly employees consist of:

(Amounts in thousands)	4/26/2014			4/27/2013
Other long-term liabilities	$	(5,396	)	$	(12,065	)

Schedule of assumptions for the defined benefit pension plan

The actuarial assumptions for the defined benefit pension plan for eligible factory hourly employees were as follows (for the fiscal years ended):

	4/26/2014			4/27/2013			4/28/2012
Discount rate used to determine benefit obligations		4.4	%		4.0	%		4.6	%
Discount rate used to determine net benefit cost		4.0	%		4.6	%		5.6	%
Long-term rate of return		4.7	%		6.3	%		7.8	%

Schedule of fair value of the assets

The following table presents the fair value of the assets in our defined benefit pension plan for eligible factory hourly employees at April 26, 2014, and April 27, 2013. The various levels of the fair value hierarchy are described in Note 21.

Fiscal 2014
(Amounts in thousands)	Level 1 (a)		Level 2 (a)		Level 3
Cash and equivalents	$	207	$	6,083	$	—
Equity funds		22,623		7,736		—
Debt funds		—		74,825		—
Total	$	22,830	$	88,644	$	—

(a) There were no transfers between Level 1 and Level 2 during fiscal 2014.

Fiscal 2013
(Amounts in thousands)	Level 1 (b)		Level 2 (b)		Level 3
Cash and equivalents	$	429	$	15,767	$	—
Equity funds		47,047		16,140		—
Debt funds		—		32,047		—
Total	$	47,476	$	63,954	$	—

(b) There were no transfers between Level 1 and Level 2 during fiscal 2013.

Schedule of expected benefit payments

The expected benefit payments by our defined benefit pension plan for eligible factory hourly employees for each of the next five fiscal years and for periods thereafter are presented in the following table:

(Amounts in thousands)	Benefit Payments
2015	$	5,574
2016		5,625
2017		5,772
2018		5,906
2019		6,077
2020 to 2024		33,253
	$	62,207