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Employee Benefits (Tables) | 12 Months Ended
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Apr. 24, 2021
Retirement Benefits [Abstract] |
Schedule of Total Costs Associated with Plans | The table below summarizes the total costs associated with our employee retirement and welfare plans.
|  | Fiscal Year Ended
|  | (52 weeks) |  | (52 weeks) |  | (52 weeks)
(Amounts in thousands) |  | 4/24/2021 |  | 4/25/2020 |  | 4/27/2019
401(k) Retirement Plan |  | $ | 7,313 |  |  | $ | 9,380 |  |  | $ | 9,128 |
Performance Compensation Retirement Plan |  | 3,810 |  |  | 1,115 |  |  | 3,084 |
Deferred Compensation Plan |  | 24 |  |  | 719 |  |  | 284 |
Non-Qualified Defined Benefit Retirement Plan (1) |  | 803 |  |  | 796 |  |  | 805 |
Net Periodic Pension Cost (2) |  | — |  |  | — |  |  | 35,998 |
(1)Primarily related to interest cost. (2)Refer below for breakdown of net periodic pension cost.
Schedule of Further Information Related to Plans | Further information related to the plan is as follows:
(Amounts in thousands) |  | 4/24/2021 |  | 4/25/2020
Short-term obligation included in other current liabilities |  | $ | 716 |  |  | $ | 638 |
Long-term obligation included in other long-term liabilities |  | 15,194 |  |  | 12,492 |
Further information related to the plan is as follows:
(Amounts in thousands) |  | 4/24/2021 |  | 4/25/2020
Plan obligation included in other long-term liabilities |  | $ | 26,548 |  |  | $ | 22,282 |
Cash surrender value on life insurance contracts included in other long-term assets (1) |  | 41,133 |  |  | 34,562 |
Mutual funds held by plan included in other current assets (2) |  | 10 |  |  | 76 |
(1)Life insurance contracts are related to the Executive Deferred Compensation Plan and the PCRP. (2)Mutual funds are considered trading securities. Further information related to the plan is as follows:
(Amounts in thousands) |  | 4/24/2021 |  | 4/25/2020
Plan obligation included in long-term liabilities |  | $ | 15,783 |  |  | $ | 16,846 |
Discount rate used to determine obligation |  | 3.0 | % |  | 2.8 | %
|  | Fiscal Year Ended
|  | (52 weeks) |  | (52 weeks) |  | (52 weeks)
(Amounts in thousands) |  | 4/24/2021 |  | 4/25/2020 |  | 4/27/2019
Actuarial loss recognized in AOCI |  | $ | 347 |  |  | $ | 218 |  |  | $ | 190 |
Benefit payments (1) |  | 1,091 |  |  | 1,091 |  |  | 1,091 |
(1)Benefit payments are scheduled to be between $1.0 million and $1.1 million annually for the next 10 years.
Schedule of Net Periodic Pension Costs | For the fiscal year ended April 27, 2019, net periodic pension costs were as follows:
|  | Fiscal Year Ended
|  | (52 weeks)
(Amounts in thousands) |  | 4/27/2019
Service cost |  | $ | 851 |
Interest cost |  | 4,464 |
Expected return on plan assets |  | (4,544) |
Net amortization |  | 2,556 |
Pension termination charge |  | 32,671 |
Net periodic pension cost |  | $ | 35,998 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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