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Retirements and Welfare (Tables) | 12 Months Ended
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Apr. 25, 2015
Retirement and Welfare |
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) |  | 4/25/2015 |  | 4/26/2014 |
Beginning of year net actuarial loss |  | $ | 39,425 |  | $ | 48,745 |
Net current year actuarial (gain) loss |  |  | 836 |  |  | (5,932 | )
Amortization of actuarial loss |  |  | (2,659 | ) |  | (3,388 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
End of year net actuarial loss |  | $ | 37,602 |  | $ | 39,425 |
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Schedule of net periodic pension cost and retirement costs | 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) |  | 4/25/2015 |  | 4/26/2014 |  | 4/27/2013 |
Service cost |  | $ | 1,114 |  | $ | 1,241 |  | $ | 1,231 |
Interest cost |  |  | 5,070 |  |  | 4,822 |  |  | 5,325 |
Expected return on plan assets |  |  | (5,077 | ) |  | (6,800 | ) |  | (6,855 | )
Net amortization and deferral |  |  | 2,658 |  |  | 3,388 |  |  | 3,024 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net periodic pension cost (hourly plan) |  |  | 3,765 |  |  | 2,651 |  |  | 2,725 |
401(k)* |  |  | 6,270 |  |  | 5,802 |  |  | 5,198 |
PCRP* |  |  | 1,377 |  |  | 2,513 |  |  | — |
Other* |  |  | 124 |  |  | 223 |  |  | 191 |
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Total retirement costs (excluding non-qualified defined benefit retirement plan) |  | $ | 11,536 |  | $ | 11,189 |  | $ | 8,114 |
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*Not determined by an actuary
Schedule of funded status of the defined benefit pension plan | The funded status of the defined benefit pension plan for eligible factory hourly employees was as follows:
(Amounts in thousands) |  | 4/25/2015 |  | 4/26/2014 |
Change in benefit obligation |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 116,870 |  | $ | 123,495 |
Service cost |  |  | 1,114 |  |  | 1,241 |
Interest cost |  |  | 5,070 |  |  | 4,822 |
Actuarial (gain) loss |  |  | 3,664 |  |  | (3,565 | )
Benefits paid |  |  | (5,638 | ) |  | (9,123 | )
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Benefit obligation at end of year |  |  | 121,080 |  |  | 116,870 |
Change in plan assets |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  |  | 111,474 |  |  | 111,430 |
Actual return on plan assets |  |  | 7,906 |  |  | 9,494 |
Other expenses |  |  | — |  |  | (327 | )
Benefits paid |  |  | (5,638 | ) |  | (9,123 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value of plan assets at end of year |  |  | 113,742 |  |  | 111,474 |
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Funded status |  | $ | (7,338 | ) | $ | (5,396 | )
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Schedule of amounts included in the consolidated balance sheet related to the defined benefit pension plan | Amounts included in the consolidated balance sheet related to the defined benefit pension plan for eligible factory hourly employees consist of:
(Amounts in thousands) |  | 4/25/2015 |  | 4/26/2014 |
Other long-term liabilities |  | $ | (7,338 | ) | $ | (5,396 | )
Schedule of actuarial 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):
|  | 4/25/2015 |  | 4/26/2014 |  | 4/27/2013 |
Discount rate used to determine benefit obligations |  |  | 4.2 | % |  | 4.4 | % |  | 4.0 | %
Discount rate used to determine net benefit cost |  |  | 4.4 | % |  | 4.0 | % |  | 4.6 | %
Long-term rate of return |  |  | 4.7 | % |  | 4.7 | % |  | 6.3 | %
Schedule of fair value of the assets in the defined benefit pension plan | The following table presents the fair value of the assets in our defined benefit pension plan for eligible factory hourly employees at April 25, 2015, and April 26, 2014. The various levels of the fair value hierarchy are described in Note 19. Fiscal 2015
(Amounts in thousands) |  | Level 1(a) |  | Level 2(a) |  | Level 3 |
Cash and equivalents |  | $ | 149 |  | $ | 3,685 |  | $ | — |
Equity funds |  |  | 23,120 |  |  | 7,702 |  |  | — |
Debt funds |  |  | — |  |  | 79,086 |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 23,269 |  | $ | 90,473 |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
| (a) |  | There were no transfers between Level 1 and Level 2 during fiscal 2015.
Fiscal 2014
(Amounts in thousands) |  | Level 1(b) |  | Level 2(b) |  | Level 3 |
Cash and equivalents |  | $ | 207 |  | $ | 6,083 |  | $ | — |
Equity funds |  |  | 22,623 |  |  | 7,736 |  |  | — |
Debt funds |  |  | — |  |  | 74,825 |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 22,830 |  | $ | 88,644 |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
| (b) |  | There were no transfers between Level 1 and Level 2 during fiscal 2014.
Schedule of expected benefit payments for each of the next five fiscal years and for periods thereafter | 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 |
2016 |  | $ | 6,195 |
2017 |  |  | 6,340 |
2018 |  |  | 6,504 |
2019 |  |  | 6,675 |
2020 |  |  | 6,856 |
2021 to 2025 |  |  | 36,373 |
​ | ​ | ​ | ​ | ​
|  | $ | 68,943 |
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