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Retirement and Welfare Plans (Tables)

12 Months Ended

Apr. 29, 2017

Retirement and Welfare Plans

Schedule of amounts recognized in accumulated other comprehensive loss

(Amounts in thousands)		4/29/2017			4/30/2016
Beginning of year net actuarial loss		$	36,850		$	37,602
Net current year actuarial loss			2,605			2,249
Amortization of actuarial loss			(3,058	)		(3,001	)
​	​	​	​	​	​	​	​
End of year net actuarial loss		$	36,397		$	36,850
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Schedule of combined net periodic pension cost and retirement costs

(Amounts in thousands)		4/29/2017			4/30/2016			4/25/2015
Service cost		$	1,278		$	1,358		$	1,114
Interest cost			4,681			4,938			5,070
Expected return on plan assets			(4,978	)		(4,997	)		(5,077	)
Net amortization and deferral			3,058			3,001			2,658
​	​	​	​	​	​	​	​	​	​	​
Net periodic pension cost (hourly plan)			4,039			4,300			3,765
401(k)*			7,124			6,657			6,270
PCRP*			1,488			3,088			1,377
Other*			51			318			124
​	​	​	​	​	​	​	​	​	​	​
Total retirement costs (excluding non-qualified defined benefit retirement plan)		$	12,702		$	14,363		$	11,536
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*      Not determined by an actuary

Schedule of funded status of the defined benefit pension plan

(Amounts in thousands)		4/29/2017			4/30/2016
Change in benefit obligation
Benefit obligation at beginning of year		$	116,371		$	121,080
Service cost			1,278			1,358
Interest cost			4,681			4,938
Actuarial loss			14			221
Benefits paid			(7,728	)		(10,808	)
Administrative expenses			(431	)		(418	)
​	​	​	​	​	​	​	​
Benefit obligation at end of year			114,185			116,371
Change in plan assets
Fair value of plan assets at beginning of year			112,484			113,742
Actual return on plan assets			2,387			2,968
Employer contributions			2,300			7,000
Benefits paid			(7,728	)		(10,808	)
Administrative expenses			(431	)		(418	)
​	​	​	​	​	​	​	​
Fair value of plan assets at end of year			109,012			112,484
​	​	​	​	​	​	​	​
Funded status		$	(5,173	)	$	(3,887	)
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Schedule of amounts included in the consolidated balance sheet related to the defined benefit pension plan

(Amounts in thousands)		4/29/2017			4/30/2016
Other long-term liabilities		$	(5,173	)	$	(3,887	)

Schedule of actuarial assumptions for the defined benefit pension plan

		4/29/2017			4/30/2016			4/25/2015
Discount rate used to determine benefit obligations			4.1	%		4.1	%		4.2	%
Discount rate used to determine net benefit cost			4.1	%		4.2	%		4.4	%
Long-term rate of return			4.5	%		4.3	%		4.7	%

Schedule of fair value of the assets in the defined benefit pension plan

Fiscal 2017

(Amounts in thousands)		Level 1(a)			Level 2(a)			Level 3
Cash and equivalents		$	44		$	3,730		$	—
Equity funds			1,517			181			—
Debt funds			—			93,949			—
​	​	​	​	​	​	​	​	​	​	​
Total		$	1,561		$	97,860		$	—
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

(a)      There were no transfers between Level 1 and Level 2 during fiscal 2017.

Fiscal 2016

(Amounts in thousands)		Level 1(b)			Level 2(b)			Level 3
Cash and equivalents		$	3,239		$	15,440		$	—
Equity funds			19,505			42			—
Debt funds			—			74,258			—
​	​	​	​	​	​	​	​	​	​	​
Total		$	22,744		$	89,740		$	—
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

(b)      There were no transfers between Level 1 and Level 2 during fiscal 2016.

Schedule of expected benefit payments for each of the next five fiscal years and for periods thereafter

(Amounts in thousands)		Benefit Payments
2018		$	6,458
2019			6,593
2020			6,720
2021			6,836
2022			6,949
2023 to 2027			35,490
​	​	​	​	​
		$	69,046
​	​	​	​	​
​	​	​	​	​

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Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

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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.

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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.

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Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period.

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Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

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