XML 14 R39.htm IDEA: XBRL DOCUMENT v2.4.1.9
FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)
12 Months Ended
Dec. 28, 2014
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following tables set forth, by level within the fair value hierarchy, our financial assets and liabilities, including assets held in a rabbi trust used to fund the Supplemental Plan, that were measured at fair value on a recurring basis as of December 28, 2014 and December 29, 2013:

 
 
December 28, 2014
 
December 29, 2013
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(in millions)
 
(in millions)
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commodity contracts
 
$
57.8

 
$
0.1

 
$

 
$
57.9

 
$
0.2

 
$
4.9

 
$

 
$
5.1

Foreign exchange contracts
 

 
0.4

 

 
0.4

 

 
1.2

 

 
1.2

Bond securities
 
15.9

 

 

 
15.9

 
19.8

 

 

 
19.8

Insurance contracts
 

 
70.0

 

 
70.0

 

 
65.8

 

 
65.8

Total
 
$
73.7

 
$
70.5

 
$

 
$
144.2

 
$
20.0

 
$
71.9

 
$

 
$
91.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commodity contracts
 
18.0

 
19.4

 

 
37.4

 
15.1

 
5.4

 

 
20.5

Interest rate swaps
 

 
0.1

 

 
0.1

 

 

 

 

Foreign exchange contracts
 

 

 

 

 

 
0.2

 

 
0.2

Total
 
$
18.0

 
$
19.5

 
$

 
$
37.5

 
$
15.1

 
$
5.6

 
$

 
$
20.7

Schedule of Fair Value, Pension Plan Asset [Table Text Block]
The following table summarizes our qualified pension plan assets measured at fair value on a recurring basis (at least annually) as of December 28, 2014 and December 29, 2013:

 
 
December 28, 2014
 
December 29, 2013
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(in millions)
 
(in millions)
Cash and cash equivalents
 
$
95.0

 
$

 
$

 
$
95.0

 
$
53.2

 
$

 
$

 
$
53.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. common stock:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Health care
 
30.7

 

 

 
30.7

 
28.2

 

 

 
28.2

Financial services
 
44.5

 

 

 
44.5

 
33.4

 

 

 
33.4

Retail and consumer products
 
36.5

 

 

 
36.5

 
40.0

 

 

 
40.0

Energy
 
9.4

 

 

 
9.4

 
15.0

 

 

 
15.0

Information technology
 
75.3

 

 

 
75.3

 
42.7

 

 

 
42.7

Manufacturing and industrials
 
26.0

 

 

 
26.0

 
20.5

 

 

 
20.5

Telecommunications
 
4.7

 

 

 
4.7

 
6.5

 

 

 
6.5

International common stock
 
131.8

 

 

 
131.8

 
139.3

 

 

 
139.3

Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
International
 

 
75.0

 

 
75.0

 

 
95.9

 

 
95.9

Domestic small cap
 

 
25.5

 

 
25.5

 

 
34.2

 

 
34.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commingled funds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mutual funds
 

 
14.0

 

 
14.0

 

 
18.1

 

 
18.1

Asset-backed securities
 

 
17.4

 

 
17.4

 

 
15.7

 

 
15.7

Emerging markets securities
 

 
22.6

 

 
22.6

 

 
23.5

 

 
23.5

Corporate debt securities
 

 
297.2

 

 
297.2

 

 
343.1

 

 
343.1

Government debt securities
 

 
204.2

 

 
204.2

 

 
112.0

 

 
112.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Alternative investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diversified investment funds
 

 
59.5

 

 
59.5

 

 
55.8

 

 
55.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Limited partnerships
 

 

 
36.4

 
36.4

 

 

 
37.8

 
37.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Insurance contracts
 

 

 
0.9

 
0.9

 

 

 
1.1

 
1.1

 
 
 
 
 
 
 
 
 
 


 


 


 


Total fair value
 
$
453.9

 
$
715.4

 
$
37.3

 
1,206.6

 
$
378.8

 
$
698.3

 
$
38.9

 
1,116.0

Unsettled transactions, net
 
 
 
 
 
 
 
8.1

 
 
 
 
 
 
 
6.8

Total plan assets
 
 
 
 
 
 
 
$
1,214.7

 
 
 
 
 
 
 
$
1,122.8

 

Schedule of Level Three Defined Benefit Plan Assets Roll Forward [Table Text Block]
The following table summarizes the changes in our Level 3 pension plan assets for the twelve months ended December 28, 2014 and the eight months ended December 29, 2013
 
 
Insurance Contracts
 
Limited Partnerships
 
 
(in millions)
Balance, April 28, 2013
 
$
1.2

 
$
40.1

Actual return on plan assets:
 
 
 
 
Related to assets held at the reporting date
 

 
(10.4
)
Related to assets sold during the period
 

 
4.0

Purchases, sales and settlements, net
 
(0.1
)
 
4.1

Balance, December 29, 2013
 
1.1

 
37.8

Actual return on plan assets:
 
 
 
 
Related to assets held at the reporting date
 

 
(10.3
)
Related to assets sold during the period
 

 
6.0

Purchases, sales and settlements, net
 
(0.2
)
 
2.9

Balance, December 28, 2014
 
$
0.9

 
$
36.4

Fair Value and Carrying Value of Debt [Table Text Block]
The following table presents the fair value and carrying value of long-term debt, including the current portion of long-term debt as of December 28, 2014 and December 29, 2013:
 
 
December 28, 2014
 
December 29, 2013
 
 
 
Fair
Value
 
Carrying Value
 
Fair
Value
 
Carrying Value
 
 
 
(in millions)
Debt
 
$
2,782.0

 
$
2,717.8

 
$
3,120.2

 
$
3,020.1