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v3.3.1.900

Fair Value Measurements (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
--- | --- | --- | ---
Oct. 25, 2015 | Oct. 25, 2015 | Oct. 26, 2014
Methods and assumptions used to estimate the fair value of the financial assets and liabilities |  |  |  |  |  |
Guarantee period at issue for rate of return on fixed income funds |  |  | 1 year |  |  |
Recognized right to reclaim net cash collateral | $ 2,300 |  | $ 2,300 |  | $ 11,500 |
Cash collateral posted | 13,700 |  | 13,700 |  | 55,600 |
Realized losses on closed positions | 11,400 |  | 11,400 |  | 44,100 |
Fair value, long-term debt |  |  |  |  |  |
Fair value of long-term debt (including current maturities) | 268,400 |  | 268,400 |  | 273,800 |
Asset Impairment Charges [Abstract] |  |  |  |  |  |
Goodwill impairment charge |  |  | 21,537 |  |  |
Recurring basis | Fair Value |  |  |  |  |  |
Assets at Fair Value: |  |  |  |  |  |
Cash and cash equivalents | 347,239 | [1] | 347,239 | [1] | 334,174 |
Other trading securities | 119,668 | [2] | 119,668 | [2] | 117,249 | [1]
Commodity derivatives | 6,485 |  | 6,485 |  | 3,461 | [2]
Total Assets at Fair Value | 473,392 |  | 473,392 |  | 454,884 |
Liabilities at Fair Value: |  |  |  |  |  |
Deferred compensation | 57,869 |  | 57,869 |  | 54,809 | [1]
Total Liabilities at Fair Value | 57,869 |  | 57,869 |  | 54,809 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |  |  |
Assets at Fair Value: |  |  |  |  |  |
Cash and cash equivalents | 347,239 | [1] | 347,239 | [1] | 334,174 |
Other trading securities | 39,329 | [2] | 39,329 | [2] | 39,120 | [1]
Commodity derivatives | 6,485 |  | 6,485 |  | 3,461 | [2]
Total Assets at Fair Value | 393,053 |  | 393,053 |  | 376,755 |
Liabilities at Fair Value: |  |  |  |  |  |
Deferred compensation | 25,272 |  | 25,272 |  | 23,642 | [1]
Total Liabilities at Fair Value | 25,272 |  | 25,272 |  | 23,642 |
Recurring basis | Significant Other Observable Inputs (Level 2) |  |  |  |  |  |
Assets at Fair Value: |  |  |  |  |  |
Other trading securities | 80,339 | [2] | 80,339 | [2] | 78,129 | [1]
Total Assets at Fair Value | 80,339 |  | 80,339 |  | 78,129 |
Liabilities at Fair Value: |  |  |  |  |  |
Deferred compensation | 32,597 |  | 32,597 |  | 31,167 | [1]
Total Liabilities at Fair Value | 32,597 |  | $ 32,597 |  | $ 31,167 |
Assets Held For Sale. | Portion of DCB | Significant Other Observable Inputs (Level 2) |  |  |  |  |  |
Asset Impairment Charges [Abstract] |  |  |  |  |  |
Goodwill impairment charge | $ 21,500 |  |  |  |  |
[1] | The Company holds trading securities as part of a rabbi trust to fund certain supplemental executive retirement plans and deferred income plans. The rabbi trust is included in other assets on the Consolidated Statements of Financial Position and is valued based on the underlying fair value of each fund held by the trust. A majority of the funds held related to the supplemental executive retirement plans have been invested in fixed income funds managed by a third party. The declared rate on these funds is set based on a formula using the yield of the general account investment portfolio that supports the fund, adjusted for expenses and other charges. The rate is guaranteed for one year at issue, and may be reset annually on the policy anniversary, subject to a guaranteed minimum rate. As the value is based on adjusted market rates, and the fixed rate is only reset on an annual basis, these funds are classified as Level 2. The remaining funds held are also managed by a third party, and include equity securities, money market accounts, bond funds, or other portfolios for which there is an active quoted market. Therefore. these securities are classified as Level 1. The related deferred compensation liabilities are included in other long-term liabilities on the Consolidated Statements of Financial Position and are valued based on the underlying investment selections held in each participant’s account. Investment options generally mirror those funds held by the rabbi trust, for which there is an active quoted market. Therefore, these investment balances are classified as Level 1. The Company also offers a fixed rate investment option to participants. The rate earned on these investments is adjusted annually based on a specified percentage of the I.R.S. Applicable Federal Rates in effect and therefore these balances are classified as Level 2.
[2] | The Company’s commodity derivatives represent futures contracts used in its hedging or other programs to offset price fluctuations associated with purchases of corn and soybean meal, and to minimize the price risk assumed when forward priced contracts are offered to the Company’s commodity suppliers. The Company’s futures contracts for corn and soybean meal are traded on the Chicago Board of Trade, while futures contracts for lean hogs are traded on the Chicago Mercantile Exchange. These are active markets with quoted prices available and therefore these contracts are classified as Level 1. All derivatives are reviewed for potential credit risk and risk of nonperformance. The Company nets the derivative assets and liabilities for each of its hedging programs, including cash collateral, when a master netting arrangement exists between the Company and the counterparty to the derivative contract. The net balance for each program is included in other current assets or accounts payable, as appropriate, in the Consolidated Statements of Financial Position. As of October 25, 2015, the Company has recognized the right to reclaim net cash collateral of $2.3 million from various counterparties (including $13.7 million of cash less $11.4 million of realized losses on closed positions). As of October 26, 2014, the Company had recognized the right to reclaim net cash collateral of $11.5 million from various counterparties (including $55.6 million of cash less $44.1 million of realized losses on closed positions).

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- Definition The amount of cash, securities, or other assets held by a third-party trustee pursuant to the terms of an agreement which assets are available to be used by beneficiaries to that agreement only within the specific terms thereof and which agreement is expected to terminate more than one year from the balance sheet date (or operating cycle, if longer) at which time the assets held-in-trust will be released or forfeited. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(b)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016 + Details
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- Definition The aggregate fair value of assets that are already posted, at the end of the reporting period, as collateral for derivative instruments with credit-risk-related contingent features. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4H -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624258-113959 + Details
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- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13495-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41228-113958 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Current Assets -URI http://asc.fasb.org/extlink&oid=6509628 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 45 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41271-113958 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13433-108611 + Details
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