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HOG PRODUCTION COST SAVINGS INITIATIVE | 3 Months Ended
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Jul. 31, 2011
Hog Production Cost Savings Initiative [Abstract] |
HOG PRODUCTION COST SAVINGS INITIATIVE | HOG PRODUCTION COST SAVINGS INITIATIVE In the fourth quarter of fiscal 2010, we announced a plan to improve the cost structure and profitability of our domestic hog production operations (the Cost Savings Initiative). The plan includes a number of undertakings designed to improve operating efficiencies and productivity. These consist of farm reconfigurations and conversions, termination of certain high cost, third party hog grower contracts and breeding stock sourcing contracts, as well as a number of other cost reduction activities. Certain of these activities are expected to occur over the next two years in order to allow for the successful transformation of farms while minimizing disruption of supply. The following table summarizes the balance of accrued expenses, the current period expense, the cumulative expenses incurred to date and the expected remaining expenses to be incurred related to the Cost Savings Initiative by major type of cost. All of the charges presented have been recorded in cost of sales in the Hog Production segment.
|  | Accrued Balance May 1, 2011 |  | Current Period Expense |  | Payments |  | Accrued Balance July 31, 2011 |  | Cumulative Expense-to-Date |  | Estimated Remaining Expense
|  | (in millions)
Cost savings activities: |  |  |  |  |  |  |  |  |  |  |  |
Contract terminations |  | $ | 0.8 |  |  | $ | 0.1 |  |  | $ | (0.3 | ) |  | $ | 0.6 |  |  | $ | 22.3 |  |  | $ | 3.3 |
Other associated costs |  | 1.6 |  |  | 0.9 |  |  | (2.3 | ) |  | 0.2 |  |  | 7.8 |  |  | 1.6 |
Total cost savings activities |  | $ | 2.4 |  |  | 1.0 |  |  | $ | (2.6 | ) |  | $ | 0.8 |  |  | 30.1 |  |  | 4.9 |
Other charges: |  |  |  |  |  |  |  |  |  |  |  |
Accelerated depreciation |  |  |  | 0.1 |  |  |  |  |  |  | 5.6 |  |  | 0.3 |
Impairment |  |  |  | — |  |  |  |  |  |  | 2.5 |  |  | — |
Total other charges |  |  |  | 0.1 |  |  |  |  |  |  | 8.1 |  |  | 0.3 |
Total cost savings activities and other charges |  | $ | 1.1 |  |  |  |  |  |  | $ | 38.2 |  |  | $ | 5.2 |

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- Definition The entire disclosure for activities related to cost savings initiative. + Details
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- Definition Hog Production Cost Savings Initiative [Abstract] + Details
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