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Retirement and Welfare (Tables) | 12 Months Ended
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Apr. 26, 2014
Retirement and Welfare [Abstract] |
Schedule of amounts recognized in accumulated other comprehensive loss | The changes in plan assets and benefit obligations were recognized in accumulated other comprehensive loss as follows (pre-tax) (for the fiscal years ended):
(Amounts in thousands) |  | 4/26/2014 |  |  | 4/27/2013 |
Beginning of year net actuarial loss |  | $ | 48,745 |  |  | $ | 45,270 |
Net current year actuarial (gain) loss |  |  | (5,932 | ) |  |  | 6,499 |
Amortization of actuarial loss |  |  | (3,388 | ) |  |  | (3,024 | )
End of year net actuarial loss |  | $ | 39,425 |  |  | $ | 48,745 |
Schedule of net periodic pension cost | The combined net periodic pension cost and retirement costs for retirement plans related to continuing operations were as follows (for the fiscal years ended):
(Amounts in thousands) |  | 4/26/2014 |  |  | 4/27/2013 |  |  | 4/28/2012 |
Service cost |  | $ | 1,241 |  |  | $ | 1,231 |  |  | $ | 1,110 |
Interest cost |  |  | 4,822 |  |  |  | 5,325 |  |  |  | 5,565 |
Expected return on plan assets |  |  | (6,800 | ) |  |  | (6,855 | ) |  |  | (6,820 | )
Net amortization and deferral |  |  | 3,388 |  |  |  | 3,024 |  |  |  | 1,635 |
Net periodic pension cost (hourly plan) |  |  | 2,651 |  |  |  | 2,725 |  |  |  | 1,490 |
401(k)* |  |  | 5,802 |  |  |  | 5,198 |  |  |  | 2,473 |
PCRP* |  |  | 2,513 |  |  |  | — |  |  |  | — |
Other* |  |  | 223 |  |  |  | 191 |  |  |  | 107 |
Total retirement costs (excluding non-qualified defined benefit retirement plan) |  | $ | 11,189 |  |  | $ | 8,114 |  |  | $ | 4,070 |
*Not determined by an actuary
Schedule of changes in the benefit obligations and fair value of assets | The funded status of the defined benefit pension plan for eligible factory hourly employees was as follows:
(Amounts in thousands) |  | 4/26/2014 |  |  | 4/27/2013 |
Change in benefit obligation |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 123,495 |  |  | $ | 118,347 |
Service cost |  |  | 1,241 |  |  |  | 1,231 |
Interest cost |  |  | 4,822 |  |  |  | 5,325 |
Actuarial (gain) loss |  |  | (3,565 | ) |  |  | 8,178 |
Benefits paid |  |  | (9,123 | ) |  |  | (9,586 | )
Benefit obligation at end of year |  |  | 116,870 |  |  |  | 123,495 |
Change in plan assets |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  |  | 111,430 |  |  |  | 89,002 |
Actual return on plan assets |  |  | 9,494 |  |  |  | 9,060 |
Employer contributions |  | — |  |  |  | 23,480 |
Other expenses |  |  | (327 | ) |  |  | (526 | )
Benefits paid |  |  | (9,123 | ) |  |  | (9,586 | )
Fair value of plan assets at end of year |  |  | 111,474 |  |  |  | 111,430 |
Funded status |  | $ | (5,396 | ) |  | $ | (12,065 | )
Schedule of amounts recognized in balance sheet | Amounts included in the consolidated balance sheet related to the defined benefit pension plan for eligible factory hourly employees consist of:
(Amounts in thousands) |  | 4/26/2014 |  |  | 4/27/2013 |
Other long-term liabilities |  | $ | (5,396 | ) |  | $ | (12,065 | )
Schedule of assumptions for the defined benefit pension plan | The actuarial assumptions for the defined benefit pension plan for eligible factory hourly employees were as follows (for the fiscal years ended):
|  | 4/26/2014 |  |  | 4/27/2013 |  |  | 4/28/2012 |
Discount rate used to determine benefit obligations |  |  | 4.4 | % |  |  | 4.0 | % |  |  | 4.6 | %
Discount rate used to determine net benefit cost |  |  | 4.0 | % |  |  | 4.6 | % |  |  | 5.6 | %
Long-term rate of return |  |  | 4.7 | % |  |  | 6.3 | % |  |  | 7.8 | %
Schedule of fair value of the assets | The following table presents the fair value of the assets in our defined benefit pension plan for eligible factory hourly employees at April 26, 2014, and April 27, 2013. The various levels of the fair value hierarchy are described in Note 21.
Fiscal 2014 |  |  |  |  |  |  |  |  |
(Amounts in thousands) |  | Level 1 (a) |  |  | Level 2 (a) |  |  | Level 3 |
Cash and equivalents |  | $ | 207 |  |  | $ | 6,083 |  |  | $ | — |
Equity funds |  |  | 22,623 |  |  |  | 7,736 |  |  |  | — |
Debt funds |  |  | — |  |  |  | 74,825 |  |  |  | — |
Total |  | $ | 22,830 |  |  | $ | 88,644 |  |  | $ | — |
| (a) | There were no transfers between Level 1 and Level 2 during fiscal 2014.
Fiscal 2013 |  |  |  |  |  |  |  |  |
(Amounts in thousands) |  | Level 1 (b) |  |  | Level 2 (b) |  |  | Level 3 |
Cash and equivalents |  | $ | 429 |  |  | $ | 15,767 |  |  | $ | — |
Equity funds |  |  | 47,047 |  |  |  | 16,140 |  |  |  | — |
Debt funds |  |  | — |  |  |  | 32,047 |  |  |  | — |
Total |  | $ | 47,476 |  |  | $ | 63,954 |  |  | $ | — |
| (b) | There were no transfers between Level 1 and Level 2 during fiscal 2013.
Schedule of expected benefit payments | The expected benefit payments by our defined benefit pension plan for eligible factory hourly employees for each of the next five fiscal years and for periods thereafter are presented in the following table:
(Amounts in thousands) |  | Benefit Payments |
2015 |  | $ | 5,574 |
2016 |  |  | 5,625 |
2017 |  |  | 5,772 |
2018 |  |  | 5,906 |
2019 |  |  | 6,077 |
2020 to 2024 |  |  | 33,253 |
|  | $ | 62,207 |

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- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the aggregate benefit obligation and aggregate fair value of plan assets for pension plans and/or other employee benefit plans with benefit obligations in excess of plan assets as of the measurement date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2417-114920 + Details
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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=32704760&loc=d3e4179-114921 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2439-114920 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2410-114920 + Details
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