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Pensions And Other Postretirement Benefits (Tables)
12 Months Ended
Oct. 26, 2012
Pensions And Other Postretirement Benefits [Abstract]  
Schedule Of Periodic Benefit Cost

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension

 

Net Periodic Benefit Cost

 

2012

 

2011

 

2010

 

Service cost

 

$

4,185

 

$

4,496

 

$

3,272

 

Interest cost

 

 

14,077

 

 

14,691

 

 

12,863

 

Expected return on plan assets

 

 

(19,379

)

 

(17,625

)

 

(16,250

)

Amortization of prior service cost

 

 

435

 

 

397

 

 

472

 

Recognized actuarial loss

 

 

6,865

 

 

6,055

 

 

4,932

 

Settlement gain

 

 

(35

)

 

(16

)

 

 

Curtailment

 

 

 

 

 

 

(172

)

Net Periodic Benefit Cost

 

$

6,148

 

$

7,998

 

$

5,117

 


 

 

 

 

 

 

 

 

 

 

 

 

 

Post-Retirement Medical

 

Net Periodic Benefit Cost

 

2012

 

2011

 

2010

 

Service cost

 

$

124

 

$

188

 

$

211

 

Interest cost

 

 

448

 

 

510

 

 

476

 

Expected return on plan assets

 

 

N/A

 

 

N/A

 

 

N/A

 

Amortization of prior service cost

 

 

(128

)

 

(128

)

 

(2,871

)

Recognized actuarial loss

 

 

471

 

 

304

 

 

2,629

 

Net Periodic Benefit Cost

 

$

915

 

$

874

 

$

445

 

Schedule Of Changes In Projected Benefit Obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension

 

Post-Retirement Medical

 

Change in Benefit Obligation

 

2012

 

2011

 

2012

 

2011

 

Benefit obligation beginning of year

 

$

278,152

 

$

268,266

 

$

9,467

 

$

9,780

 

Service cost

 

 

4,185

 

 

4,496

 

 

124

 

 

188

 

Interest cost

 

 

14,077

 

 

14,691

 

 

448

 

 

510

 

Plan participants' contributions

 

 

735

 

 

737

 

 

 

 

 

Plan amendments

 

 

223

 

 

676

 

 

 

 

 

Actuarial loss

 

 

43,055

 

 

4,074

 

 

816

 

 

1,641

 

Benefits paid

 

 

(14,385

)

 

(14,376

)

 

(1,311

)

 

(2,652

)

Expenses paid from assets

 

 

(290

)

 

(211

)

 

 

 

 

Currency impact

 

 

1,226

 

 

(201

)

 

 

 

 

Other

 

 

881

 

 

 

 

 

 

 

Benefit Obligation at End of Year

 

$

327,859

 

$

278,152

 

$

9,544

 

$

9,467

 

Schedule Of Changes In Fair Value Of Plan Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension

 

Post-Retirement Medical

 

Change in Plan Assets

 

2012

 

2011

 

2012

 

2011

 

Fair value of plan assets at beginning of year

 

$

237,658

 

$

212,822

 

$

 

$

 

Actual return on plan assets

 

 

36,543

 

 

7,970

 

 

 

 

 

Employer contributions

 

 

16,095

 

 

30,961

 

 

1,311

 

 

2,652

 

Plan participants' contributions

 

 

735

 

 

737

 

 

 

 

 

Benefit payments

 

 

(14,385

)

 

(14,376

)

 

(1,311

)

 

(2,652

)

Expenses paid from assets

 

 

(290

)

 

(211

)

 

 

 

 

Currency impact

 

 

2,001

 

 

(245

)

 

 

 

 

Other

 

 

881

 

 

 

 

 

 

 

Fair Value of Assets at End of Year

 

$

279,238

 

$

237,658

 

$

 

$

 

Schedule Of Net Funded Status

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension

 

Post-Retirement Medical

 

Funded Status

 

2012

 

2011

 

2012

 

2011

 

Projected benefit obligation

 

$

(327,859

)

$

(278,152

)

$

(9,544

)

$

(9,467

)

Plan assets at fair value

 

 

279,238

 

 

237,658

 

 

 

 

 

Net Funded Status – Over / (Under)

 

$

(48,621

)

$

(40,494

)

$

(9,544

)

$

(9,467

)

Funded status – overfunded plans

 

$

686

 

$

352

 

$

 

$

 

Funded status – underfunded plans

 

 

(49,307

)

 

(40,846

)

 

(9,544

)

 

(9,467

)

Schedule Of Amounts Recognized In Balance Sheet

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension

 

Post-Retirement Medical

 

Amounts Recognized in Balance Sheet

 

2012

 

2011

 

2012

 

2011

 

Noncurrent assets

 

$

686

 

$

352

 

$

 

$

 

Current liabilities

 

 

(455

)

 

(477

)

 

(1,058

)

 

(994

)

Noncurrent liabilities

 

 

(48,852

)

 

(40,369

)

 

(8,486

)

 

(8,473

)

Schedule Of Amounts In Accumulated Other Comprehensive Income (Loss) And Amortization Expense Expected To Be Recognized Over Next Fiscal Year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension

 

Post-Retirement Medical

 

Amounts in Accumulated Other Comprehensive Income

 

2012

 

2011

 

2012

 

2011

 

Net (gain) loss

 

$

144,613

 

$

125,245

 

$

5,372

 

$

5,027

 

Net prior service cost (credit)

 

 

4,779

 

 

5,005

 

 

(567

)

 

(695

)

Other Comprehensive (Income) Loss – Total

 

$

149,392

 

$

130,250

 

$

4,805

 

$

4,332

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization Expense Expected to Be
Recognized During Next Fiscal Year

 

Pension

 

Post-Retirement Medical

 

 

 

2012

 

 

2011

 

 

2012

 

 

2011

 

Prior service cost (credits)

 

$

448

 

$

436

 

$

(128

)

$

(128

)

Net loss

 

 

9,828

 

 

6,863

 

 

469

 

 

472

 

Schedule Of Projected / Accumulated Benefit Obligations In Excess Of Plan Assets

Our pension and post-retirement medical plans with accumulated benefit obligations in excess of plan assets were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension

 

Post-Retirement Medical

 

 

 

2012

 

2011

 

2012

 

2011

 

Projected / accumulated post-retirement benefit obligation

 

$

265,706

 

$

226,158

 

$

9,544

 

$

9,467

 

Accumulated benefit obligation

 

 

256,936

 

 

219,328

 

 

N/A

 

 

N/A

 

Fair value of plan assets

 

 

219,245

 

 

186,329

 

 

N/A

 

 

N/A

 

Our pension and post-retirement medical plans with projected benefit obligations in excess of plan assets were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension

 

Post-Retirement Medical

 

 

 

2012

 

2011

 

2012

 

2011

 

Projected / accumulated post-retirement benefit obligation

 

$

314,414

 

$

265,134

 

 

N/A

 

 

N/A

 

Accumulated benefit obligation

 

 

301,706

 

 

255,298

 

 

N/A

 

 

N/A

 

Fair value of plan assets

 

 

265,107

 

 

224,288

 

 

N/A

 

 

N/A

 

Our pension plans with projected benefit obligations less than plan assets were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension

 

Post-Retirement Medical

 

 

 

2012

 

2011

 

2012

 

2011

 

Projected benefit obligation

 

$

13,445

 

$

13,018

 

 

N/A

 

 

N/A

 

Accumulated benefit obligation

 

 

12,421

 

 

12,222

 

 

N/A

 

 

N/A

 

Fair value of plan assets

 

 

14,131

 

 

13,370

 

 

N/A

 

 

N/A

 

Schedule Of Actuarial Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension

 

Post-Retirement Medical

 

Assumption ranges used in net periodic benefit cost

 

 

2012

 

 

2011

 

 

2012

 

 

2011

 

Discount rate

 

 

4.25% – 5.50

%

 

4.75% – 5.75

%

 

5.00

%

 

5.50

%

Expected long-term return on plan assets

 

 

5.50% – 8.00

%

 

4.75% – 8.00

%

 

N/A

 

 

N/A

 

Average increase in compensation

 

 

2.25% – 4.00

%

 

2.25% – 4.00

%

 

N/A

 

 

N/A

 

Initial medical trend rate

 

 

N/A

 

 

N/A

 

 

8.50

%

 

9.00

%

Ultimate medical trend rate

 

 

N/A

 

 

N/A

 

 

5.00

%

 

5.00

%

Years to ultimate rate

 

 

N/A

 

 

N/A

 

 

7 Years

 

 

8 Years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assumption ranges used to determine benefit obligation:

 

Pension

 

Post-Retirement Medical

 

 

 

2012

 

 

2011

 

 

2012

 

 

2011

 

Discount rate

 

 

3.00% – 4.75

%

 

4.25% – 5.50

%

 

4.00

%

 

5.00

%

Rate of compensation increase

 

 

2.25% – 3.75

%

 

2.25% – 4.00

%

 

N/A

 

 

N/A

 

Initial medical trend rate

 

 

N/A

 

 

N/A

 

 

8.00

%

 

8.50

%

Ultimate medical trend rate

 

 

N/A

 

 

N/A

 

 

5.00

%

 

5.00

%

Years to ultimate rate

 

 

N/A

 

 

N/A

 

 

6 Years

 

 

7 Years

 

Schedule Of Weighted Average Asset Allocation by Assets Category

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension Plans

 

Asset Allocation

 

2012

 

2011

 

Target
Allocation

 

Equity securities

 

 

56

%

 

56

%

 

5060

%

Debt securities

 

 

38

%

 

39

%

 

4050

%

Other

 

 

6

%

 

5

%

 

0

%

Total

 

 

100

%

 

100

%

 

100

%

Fair Value Measurements, Fair Value Of Pension Plan Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value at
October 26, 2012

 

Fair Value Measurements Using Inputs Considered as

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Domestic Equity Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Stocks

 

$

25,050

 

$

25,050

 

$

 

$

 

Commingled Trust

 

 

66,692

 

 

 

 

66,692

 

 

 

International Equity Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual Funds

 

 

65,578

 

 

 

 

65,578

 

 

 

Total Equity Securities

 

 

157,320

 

 

25,050

 

 

132,270

 

 

 

Domestic Fixed Income

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual Funds

 

 

83,467

 

 

 

 

83,467

 

 

 

International Fixed Income

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt Securities

 

 

4,211

 

 

 

 

4,211

 

 

 

Mutual Funds

 

 

18,110

 

 

 

 

18,110

 

 

 

Total Fixed Income

 

 

105,788

 

 

 

 

105,788

 

 

 

Other Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance Contracts

 

 

12,385

 

 

 

 

 

 

12,385

 

Cash

 

 

1,988

 

 

1,988

 

 

 

 

 

Real Estate

 

 

1,757

 

 

 

 

1,172

 

 

585

 

Total Other Investments

 

 

16,130

 

 

1,988

 

 

1,172

 

 

12,970

 

Total

 

$

279,238

 

$

27,038

 

$

239,230

 

$

12,970

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value at
October 28, 2011

 

Fair Value Measurements Using Inputs Considered as

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Domestic Equity Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Stocks

 

$

24,041

 

$

24,041

 

$

 

$

 

Commingled Trust

 

 

53,273

 

 

 

 

53,273

 

 

 

Mutual Funds

 

 

3,437

 

 

 

 

3,437

 

 

 

International Equity Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual Funds

 

 

48,385

 

 

 

 

48,385

 

 

 

Total Equity Securities

 

 

129,136

 

 

24,041

 

 

105,095

 

 

 

Domestic Fixed Income

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt Securities

 

 

1,466

 

 

 

 

1,466

 

 

 

Mutual Funds

 

 

73,243

 

 

 

 

73,243

 

 

 

International Fixed Income

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt Securities

 

 

2,532

 

 

 

 

2,532

 

 

 

Mutual Funds

 

 

20,809

 

 

 

 

20,809

 

 

 

Total Fixed Income

 

 

98,050

 

 

 

 

98,050

 

 

 

Other Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance Contracts

 

 

7,216

 

 

 

 

 

 

7,216

 

Cash

 

 

1,969

 

 

1,969

 

 

 

 

 

Real Estate

 

 

1,287

 

 

 

 

787

 

 

500

 

Total Other Investments

 

 

10,472

 

 

1,969

 

 

787

 

 

7,716

 

Total

 

$

237,658

 

$

26,010

 

$

203,932

 

$

7,716

 

Reconciliation Of Pension Assets Measured At Fair Value That Used Significant Unobservable Inputs (Level 3)

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

U.S.

 

Non-U.S.

 

Balance, October 29, 2010

 

$

7,022

 

$

495

 

$

6,527

 

Actual return on plan assets

 

 

 

 

 

 

 

 

 

 

Relating to assets still held at reporting date

 

 

(328

)

 

5

 

 

(333

)

Purchases

 

 

1,168

 

 

 

 

1,168

 

Settlements

 

 

(66

)

 

 

 

(66

)

Transfers in and/or out of Level 3

 

 

 

 

 

 

 

Currency impact

 

 

(80

)

 

 

 

(80

)

Balance, October 28, 2011

 

$

7,716

 

$

500

 

$

7,216

 

Actual return on plan assets

 

 

 

 

 

 

 

 

 

 

Relating to assets still held at reporting date

 

 

3,474

 

 

85

 

 

3,389

 

Purchases

 

 

2,279

 

 

 

 

2,279

 

Settlements

 

 

(82

)

 

 

 

(82

)

Transfers in and/or out of Level 3

 

 

 

 

 

 

 

Currency impact

 

 

(417

)

 

 

 

(417

)

Balance, October 26, 2012

 

$

12,970

 

$

585

 

$

12,385

 

Schedule Of Expected Benefit Payments

 

 

 

 

 

 

 

 

 

 

Pension

 

Post-retirement
Medical

 

2013

 

$

15,277

 

$

1,079

 

2014

 

 

15,051

 

 

1,102

 

2015

 

 

15,225

 

 

981

 

2016

 

 

15,367

 

 

860

 

2017

 

 

16,117

 

 

770

 

2018 – 2022

 

 

86,474

 

 

2,588

 

Total

 

$

163,511

 

$

7,380