Pensions And Other Postretirement Benefits (Tables)

12 Months Ended

Oct. 03, 2015

General Discussion of Pension and Other Postretirement Benefits [Abstract]

Schedule Of Reconciliation Of Changes In Plans' Benefit Obligations, Assets And Funded Status

The following table provides a reconciliation of the changes in the plans’ benefit obligations, assets and funded status at October 3, 2015, and September 27, 2014:



													in millions
	Pension Benefits												Other Postretirement
	Qualified						Non-Qualified						Benefits
	2015			2014			2015			2014			2015			2014
Change in benefit obligation
Benefit obligation at beginning of year	$	1,849		$	86		$	182		$	85		$	163		$	71
Service cost	10			1			8			7			5			2
Interest cost	78			10			8			5			7			3
Plan amendments	—			—			—			—			(60		)	—
Plan participants’ contributions	—			—			—			—			2			1
Actuarial (gain)/loss	(50		)	(37		)	11			15			9			(8		)
Benefits paid	(102		)	(11		)	(8		)	(3		)	(12		)	(6		)
Business acquisition	—			1,800			—			73			—			100
Benefit obligation at end of year	1,785			1,849			201			182			114			163
Change in plan assets
Fair value of plan assets at beginning of year	1,647			85			3			—			—			—
Actual return on plan assets	25			(36		)	—			—			—			—
Employer contributions	6			6			8			3			10			5
Plan participants’ contributions	—			—			—			—			2			1
Benefits paid	(102		)	(11		)	(8		)	(3		)	(12		)	(6		)
Business acquisition	—			1,603			—			3			—			—
Other	—			—			(3		)	—			—			—
Fair value of plan assets at end of year	1,576			1,647			—			3			—			—
Funded status	$	(209	)	$	(202	)	$	(201	)	$	(179	)	$	(114	)	$	(163	)

Schedule Of Amounts Recognized In The Consolidated Balance Sheets

Amounts recognized in the Consolidated Balance Sheets consist of:



													in millions
	Pension Benefits												Other Postretirement
	Qualified						Non-Qualified						Benefits
	2015			2014			2015			2014			2015			2014
Other current liabilities	$	—		$	—		$	(9	)	$	(5	)	$	(20	)	$	(7	)
Other liabilities	(209		)	(202		)	(192		)	(174		)	(94		)	(156		)
Total liabilities	$	(209	)	$	(202	)	$	(201	)	$	(179	)	$	(114	)	$	(163	)

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

Amounts recognized in Accumulated Other Comprehensive Income consist of:



									in millions
	Pension Benefits								Other Postretirement
	Qualified				Non-Qualified				Benefits
	2015		2014		2015		2014		2015			2014
Accumulated other comprehensive (income)/loss:
Actuarial loss	$	57	$	39	$	43	$	36	$	—		$	—
Prior service cost/(credit) (a)	—		—		—		—		(59		)	(2		)
Total accumulated other comprehensive (income)/loss:	$	57	$	39	$	43	$	36	$	(59	)	$	(2	)


(a)	The change in prior service cost is primarily attributed to the plan amendments to the other postretirement benefits as noted within the change in benefit obligation with remainder of the change being immaterial.

Schedule Of Plans With Accumulated Benefit Obligations In Excess Of Plan Assets

Plans with accumulated benefit obligations in excess of plan assets are as follows:



					in millions
	Pension Benefits
	Qualified				Non-Qualified
	2015		2014		2015		2014
Projected benefit obligation	$	1,781	$	1,829	$	201	$	182
Accumulated benefit obligation	1,781		1,829		193		172
Fair value of plan assets	1,572		1,627		—		3

Schedule Of Components Of Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans Recognized In The Consolidated Statements Of Income

Components of net periodic benefit cost for pension and postretirement benefit plans recognized in the Consolidated Statements of Income are as follows:



																			in millions
	Pension Benefits															Other Postretirement
	Qualified									Non-Qualified						Benefits
	2015			2014			2013			2015		2014		2013		2015			2014			2013
Service cost	$	10		$	1		$	—		$	8	$	7	$	5	$	5		$	2		$	2
Interest cost	78			10			4			8		5		3		7			3			2
Expected return on plan assets	(102		)	(13		)	(5		)	—		—		—		—			—			—
Amortization of prior service cost	—			—			—			—		—		1		(1		)	—			(1		)
Recognized actuarial (gain) loss, net	2			2			4			4		2		3		9			(8		)	7
Recognized settlement (gain) loss	8			—			—			—		—		—		(2		)	—			—
Net periodic benefit (credit) cost	$	(4	)	$	—		$	3		$	20	$	14	$	12	$	18		$	(3	)	$	10

Schedule Of Weighted Average Assumptions

Weighted average assumptions are as follows:



	Pension Benefits												Other Postretirement
	Qualified						Non-Qualified						Benefits
	2015		2014		2013		2015		2014		2013		2015		2014		2013
Discount rate to determine net periodic benefit cost	4.32	%	4.37	%	4.02	%	4.36	%	5.01	%	4.23	%	3.97	%	4.41	%	3.66	%
Discount rate to determine benefit obligations	4.47	%	4.32	%	4.77	%	4.41	%	4.36	%	5.09	%	3.54	%	3.97	%	4.48	%
Rate of compensation increase	0.01	%	0.01	%	n/a		2.31	%	2.11	%	3.50	%	n/a		n/a		n/a
Expected return on plan assets	4.61	%	6.37	%	5.44	%	n/a		n/a		n/a		n/a		n/a		n/a

Schedule of Health Care Cost Trend Rates

A one-percentage-point change in assumed health-care cost trend rates would have the following effects:



			in millions
	One Percentage Point Increase		One Percentage Point Decrease
Effect on postretirement benefit obligation	$	8	$	7
Effect on total service and interest components	—		—

Schedule Of Actual And Target Asset Allocation For Pension Plan Assets

The following table sets forth the actual and target asset allocation for pension plan assets:



	2015		2014		Target Asset Allocation
Cash	0.3	%	4.9	%	—	%
Fixed Income Securities	85.4		80.5		86.0
United States Stock Funds	3.9		6.0		4.0
International Stock Funds	6.8		6.2		6.5
Real Estate	3.6		2.0		3.5
Other	—		0.4		—
Total	100.0	%	100.0	%	100.0	%

Schedule Of Categories Of Pension Plan Assets And Level Under Which Fair Values Were Determined In Fair Value Hierarchy

The following tables show the categories of pension plan assets and the level under which fair values were determined in the fair value hierarchy, which is described in Note 13: Fair Value Measurements.



	in millions
October 3, 2015	Level 1		Level 2 (a)		Level 3 (b)		Total
Cash and cash equivalents	$	5	$	—	$	—	$	5
Fixed Income Securities:
Bond and fixed income funds	—		1,334		—		1,334
Total fixed income securities	—		1,334		—		1,334
Equity Securities:
United States securities funds	—		61		—		61
Non-United States securities funds	—		106		—		106
Global real estate funds	—		56		—		56
Total equity securities	—		223		—		223
Insurance contract at contract value	—		—		14		14
Total plan assets	$	5	$	1,557	$	14	$	1,576



	in millions
September 27, 2014	Level 1		Level 2 (a)		Level 3 (b)		Total
Cash and cash equivalents	$	79	$	—	$	—	$	79
Fixed Income Securities:
Bond and fixed income funds	—		377		—		377
Corporate bonds	—		680		—		680
Government and municipal bonds	—		253		—		253
Mortgage backed securities	—		—		7		7
Total fixed income securities	—		1,310		7		1,317
Equity Securities:
United States securities funds	—		84		—		84
Non- United States securities funds	—		101		—		101
Commodity funds	—		14		—		14
Global real estate funds	—		33		—		33
Total equity securities	—		232		—		232
Other	—		7		—		7
Insurance contract at contract value	—		—		15		15
Total plan assets	$	79	$	1,549	$	22	$	1,650

(a)

We classify our investments in United States government, United States agency, fixed income funds, bond funds, corporate bonds, and other debt securities as Level 2 as fair value is generally estimated using discounted cash flow models that are primarily industry-standard models that consider various assumptions, including time value and yield curve as well as other readily available relevant economic measures. Funds are valued using the net asset value (NAV) provided by the trustee, which is a practical expedient to estimating fair value. The NAV is based on the fair value of the underlying investments within the funds and is determined daily.

(b)

We classify certain mortgage-backed, asset-backed and insurance contracts as Level 3 as there is limited activity or less observable inputs into valuation models, including current interest rates and estimated prepayment, default and recovery rates on the underlying portfolio or structured investment vehicle. The insurance contracts are valued using the plan’s own assumptions about the assumptions market participants would use in pricing the assets based on the best information available, such as investment manager pricing. Significant changes to assumptions or unobservable inputs in the valuation of our Level 3 instruments would not have a significant impact to our consolidated financial statements.

Schedule Of Reconciliation Of Change In Fair Value Measurement Of Defined Benefit Plans' Consolidated Assets Using Significant Unobservable Inputs

A reconciliation of the change in the fair value measurement of the defined benefit plans’ consolidated assets using significant unobservable inputs (Level 3) is as follows:



							in millions
	Mortgage backed securities			Insurance contract			Total
Balance at September 27, 2014	$	7		$	15		22
Actual return on plan assets:
Assets still held at reporting date	—			—			—
Assets sold during the period	—			—			—
Purchases, sales and settlements, net	(7		)	(1		)	(8		)
Transfers in and/or out of Level 3	—			—			—
Balance at October 3, 2015	$	—		$	14		$	14

Schedule Of Estimated Future Benefit Payments Expected To Be Paid

The following benefit payments are expected to be paid:



					in millions
	Pension Benefits				Other Postretirement
	Qualified		Non-Qualified		Benefits
2016	$	81	$	9	$	20
2017	83		9		14
2018	87		10		10
2019	89		10		7
2020	92		10		7
2021-2025	508		59		33

Schedule of Multiemployer Plans

In addition to regular contributions, we could be obligated to pay additional contributions (known as complete or partial withdrawal liabilities) if it has unfunded vested benefits.

PPA Zone Status

FIP/RP Status

Contributions (in millions)

Surcharge Imposed

Pension Fund Plan Name

EIN/Pension Plan Number

2015

2014

Implemented

2015

2014

2015

Expiration Date of Collective Bargaining Agreement^(a)

Bakery and Confectionery Union and Industry International Pension Fund

52-6118572/001

Red

Nov 2012

10%

October 2015

(a) Renewal negotiations are in progress.