PENSION AND OTHER RETIREMENT PLANS Pension and Other Retirement Plans (Tables)

12 Months Ended

Apr. 29, 2012

PENSION AND OTHER RETIREMENT PLANS [Abstract]

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The following table presents a reconciliation of the pension benefit obligation, plan assets and the funded status of these pension plans.

	April 29, 2012			May 1, 2011
	(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	1,329.9		$	1,283.9
Service cost	37.4			37.0
Interest cost	75.9			74.9
Benefits paid	(63.2		)	(69.3		)
Actuarial loss	229.1			1.0
Other	1.5			2.4
Benefit obligation at end of year	1,610.6			1,329.9
Change in plan assets: (1)
Fair value of plan assets at beginning of year	956.4			788.7
Actual return on plan assets	(16.0		)	125.8
Employer contributions	142.8			95.1
Benefits paid	(59.7		)	(56.2		)
Other	—			3.0
Fair value of plan assets at end of year	1,023.5			956.4
Funded status	$	(587.1	)	$	(373.5	)
Amounts recognized in the consolidated balance sheet:
Net long-term pension liability	$	(581.9	)	$	(369.6	)
Accrued expenses and other current liabilities	(5.2		)	(4.5		)
Other assets	—			0.6
Net amount recognized at end of year	$	(587.1	)	$	(373.5	)

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⁽¹⁾  Excludes the assets and related activity of our non-qualified defined benefit pension plans. The fair value of assets related to our non-qualified plans was $107.1 million and $117.7 million as of April 29, 2012 and May 1, 2011, respectively. We made cash contributions of $33.4 million in fiscal 2011. In fiscal 2011, we also contributed company-owned life insurance policies with cash surrender values totaling $29.4 million on the date of contribution. We made no contributions to our non-qualified plans in fiscal 2012. Benefits paid for our non-qualified plans were $3.5 million and $13.1 million for fiscal 2012 and fiscal 2011, respectively.

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The following table shows the pre-tax unrecognized items included as components of accumulated other comprehensive loss related to our defined benefit pension plans as of the dates indicated. 

	April 29, 2012			May 1, 2011
	(in millions)
Unrecognized actuarial loss	$	(665.4	)	$	(365.3	)
Unrecognized prior service credit	4.7			7.2

Schedule of Net Benefit Costs [Table Text Block]

The following table presents the components of the net periodic pension costs for the periods indicated: 

	Fiscal Years
	2012			2011			2010
	(in millions)
Service cost	$	37.4		$	37.0		$	22.6
Interest cost	75.9			74.9			73.7
Expected return on plan assets	(79.6		)	(63.9		)	(49.3		)
Net amortization	23.5			34.0			20.3
Net periodic pension cost	$	57.2		$	82.0		$	67.3

Schedule of Assumptions Used [Table Text Block]

The following table shows our weighted-average assumptions for the periods indicated. 

	Fiscal Years
	2012		2011		2010
Discount rate to determine net periodic benefit cost	5.85	%	6.00	%	8.25	%
Discount rate to determine benefit obligation	4.75		5.85		6.00
Expected long-term rate of return on plan assets	7.75		8.00		8.25
Rate of compensation increase	4.00		4.00		4.00

Schedule of Allocation of Plan Assets [Table Text Block]

The following table presents the fair value of our qualified pension plan assets by major asset category as of April 29, 2012 and May 1, 2011. The allocation of our pension plan assets is based on the target range presented in the following table. 

	April 29, 2012		May 1, 2011		Target Range
Asset category:	(in millions)
Cash and cash equivalents, net of unsettled transactions	$	24.7	$	83.9	0-4%
Equity securities	427.0		570.5		30-50%
Debt securities	495.2		266.6		35-55%
Alternative assets	76.6		35.4		5-20%
Total	$	1,023.5	$	956.4

Schedule of Expected Benefit Payments [Table Text Block]

Expected future benefit payments for our defined benefit pension plans are as follows: 

Fiscal Year	(in millions)
2013	$	69.2
2014	72.3
2015	75.6
2016	79.5
2017	83.3
2018-2022	476.3

Schedule of Multiemployer Plans [Table Text Block]

The following table summarizes our contributions to multiemployer plans ⁽¹⁾.

		Fiscal Years
Plan	EIN / PN (2)	2012		2011		2010		Expiration Dates of Collective Bargaining Agreements
		(in millions)
United Food and Commercial Workers International Union Industry Pension Fund	51-6055922 / 001	$	1.1	$	1.4	$	1.7	Multiple (3)
Central Pension Fund of the International Union of Operating Engineers and Participating Employers	36-6052390 / 001	0.2		0.2		0.2		October 2013
IAM National Pension Fund National Pension Plan	51-6031295 / 002	0.1		0.1		0.1		February 2014
Total contributions to multiemployer plans		$	1.4	$	1.7	$	2.0

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⁽¹⁾  Contributions represent the amounts we contributed to the plans during the fiscal periods ending in the specified year. Our contributions to each plan did not exceed 5% of total plan contributions for any plan year presented.

⁽²⁾  Represents the Employer Identification Number and the three-digit plan number assigned to a plan by the Internal Revenue Service.

⁽³⁾  We have multiple collective bargaining agreements associated with the United Food and Commercial Workers International Union Industry Pension Fund. These agreements are currently scheduled to expire in May 2012, December 2013, January 2014 and October 2015.