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INCOME TAXES Income Taxes (Tables) | 12 Months Ended
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Apr. 29, 2012
INCOME TAXES [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Income tax expense (benefit) consists of the following:
|  | Fiscal Years
|  | 2012 |  | 2011 |  | 2010
|  | (in millions)
Current income tax expense (benefit): |  |  |  |  |  |
Federal |  | $ | 72.7 |  |  | $ | 57.6 |  |  | $ | (150.2 | )
State |  | 8.4 |  |  | 17.2 |  |  | 2.5 |
Foreign |  | 1.1 |  |  | 3.1 |  |  | (0.8 | )
|  | 82.2 |  |  | 77.9 |  |  | (148.5 | )
Deferred income tax expense (benefit): |  |  |  |  |  |  |  |  |
Federal |  | 82.1 |  |  | 128.3 |  |  | 55.0 |
State |  | 11.2 |  |  | 24.2 |  |  | (23.1 | )
Foreign |  | (3.1 | ) |  | 5.7 |  |  | 3.4 |
|  | 90.2 |  |  | 158.2 |  |  | 35.3 |
Total income tax expense (benefit) |  | $ | 172.4 |  |  | $ | 236.1 |  |  | $ | (113.2 | )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of taxes computed at the federal statutory rate to the provision for income taxes is as follows:
|  | Fiscal Years
|  | 2012 |  | 2011 |  | 2010
Federal income taxes at statutory rate |  | 35.0 | % |  | 35.0 | % |  | 35.0 | %
State income taxes, net of federal tax benefit |  | 2.1 |  |  | 3.4 |  |  | 6.5 |
Foreign income taxes |  | (0.2 | ) |  | (1.2 | ) |  | 9.6 |
Unremitted earnings |  | 2.6 |  |  | — |  |  | — |
Net change in uncertain tax positions |  | (2.4 | ) |  | (0.3 | ) |  | (1.3 | )
Net change in valuation allowance |  | (0.9 | ) |  | (3.4 | ) |  | (0.4 | )
Tax credits |  | (1.0 | ) |  | (1.1 | ) |  | 2.3 |
Manufacturer's deduction |  | (1.7 | ) |  | (1.8 | ) |  | — |
Adjustment to goodwill |  | — |  |  | 2.0 |  |  | 1.0 |
Other |  | (1.2 | ) |  | (1.4 | ) |  | — |
Effective tax rate |  | 32.3 | % |  | 31.2 | % |  | 52.7 | %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The tax effects of temporary differences consist of the following:
|  | April 29, 2012 |  | May 1, 2011
|  | (in millions)
Deferred tax assets: |  |  |  |
Pension liabilities |  | $ | 256.4 |  |  | $ | 138.6 |
Tax credits, carryforwards and net operating losses |  | 85.6 |  |  | 96.8 |
Accrued expenses |  | 53.2 |  |  | 41.7 |
Employee benefits |  | — |  |  | 11.1 |
Other |  | 30.8 |  |  | 39.6 |
|  | 426.0 |  |  | 327.8 |
Valuation allowance |  | (54.6 | ) |  | (66.8 | )
Total deferred tax assets |  | $ | 371.4 |  |  | $ | 261.0 |
Deferred tax liabilities: |  |  |  |
Property, plant and equipment |  | $ | 385.6 |  |  | $ | 337.4 |
Intangible assets |  | 125.8 |  |  | 108.5 |
Derivatives |  | 31.9 |  |  | 44.7 |
Employee benefits |  | 13.7 |  |  | — |
Investments in subsidiaries |  | 44.6 |  |  | 53.5 |
Total deferred tax liabilities |  | $ | 601.6 |  |  | $ | 544.1 |
Schedule of Classification of Deferred Taxes on Balance Sheet [Table Text Block] | The following table presents the classification of deferred taxes in our balance sheets as of April 29, 2012 and May 1, 2011:
|  | April 29, 2012 |  | May 1, 2011
|  | (in millions)
Other current assets |  | $ | 57.4 |  |  | $ | 39.3 |
Other assets |  | 3.2 |  |  | 5.6 |
Accrued expenses and other current liabilities |  | — |  |  | 3.9 |
Other liabilities |  | 290.8 |  |  | 324.1 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | A reconciliation of the beginning and ending liability for unrecognized tax benefits is as follows:
|  | (in millions)
Balance, May 2, 2010 |  | $ | 43.2 |
Additions for tax positions taken in the current year |  | 4.9 |
Additions for tax positions taken in prior years |  | 0.9 |
Settlements with taxing authorities |  | (7.3 | )
Lapse of statute of limitations |  | (8.1 | )
Balance, May 1, 2011 |  | 33.6 |
Additions for tax positions taken in the current year |  | 2.4 |
Reduction for tax positions taken in prior years |  | (10.8 | )
Settlements with taxing authorities |  | (9.3 | )
Lapse of statute of limitations |  | (0.6 | )
Balance, April 29, 2012 |  | $ | 15.3 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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