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Retirement and Postemployment Benefits (Tables)
12 Months Ended
May 29, 2011
May 30, 2010
Notes To Consolidated Financial Statements    
Health Care Cost Trend Rates
 Fiscal Year
 2011 2010
Health care cost trend rate for next year8.5% 9.0%
Rate to which the cost trend rate is assumed to decline (ultimate rate)5.2% 5.2%
Year that the rate reaches the ultimate trend rate2019 2019
 
Effect of One Percentage Point Change in Health Care Cost Trend Rate
In Millions One Percentage Point Increase One Percentage Point Decrease
Effect on the aggregate of the service and interest cost components in fiscal 2012$ 6.2$ (5.4)
Effect on the other postretirement accumulated benefit obligation as of May 29, 2011  82.4  (73.6)
 
Changes In Fair Value Of Plan Assets And Projected Benefit Obligations
  Defined Benefit Pension Plans  Other Postretirement Benefit Plans  Postemployment Benefit Plans
  Fiscal Year  Fiscal Year  Fiscal Year
In Millions 2011  2010  2011  2010  2011  2010
Change in Plan Assets:                 
Fair value at beginning of year$ 3,529.8 $ 3,157.8 $ 284.3 $ 235.6      
Actual return on assets  688.9   535.9   60.7   41.0      
Employer contributions  220.7   17.1   0.1   0.1      
Plan participant contributions  4.1   3.5   11.8   11.3      
Benefits payments  (188.2)   (182.6)   (3.1)   (3.7)      
Foreign currency   8.7   (1.9)   -   -      
Fair value at end of year$ 4,264.0 $ 3,529.8 $ 353.8 $ 284.3      
Change in Projected Benefit Obligation:                 
Benefit obligation at beginning of year$ 4,030.0 $ 3,167.3 $ 1,060.6 $ 852.0 $ 130.3 $ 112.5
Service cost  101.4   70.9   18.7   12.9   8.0   7.2
Interest cost  230.9   230.3   60.1   61.6   5.1   5.6
Plan amendment  -   25.8   (35.3)   7.5   -   -
Curtailment/other  -   -   -   -   4.2   10.6
Plan participant contributions  4.1   3.5   11.8   11.3   -   -
Medicare Part D reimbursements  -   -   4.5   4.7   -   -
Actuarial loss (gain)  271.2   716.4   2.0   168.1   (0.5)   11.8
Benefits payments   (188.2)   (182.6)   (56.9)   (57.5)   (16.1)   (17.6)
Foreign currency   9.0   (1.6)   0.3   -   0.3   0.2
Projected benefit obligation at end of year$ 4,458.4 $ 4,030.0 $ 1,065.8 $ 1,060.6 $ 131.3 $ 130.3
Plan assets less than benefit obligation as of fiscal year end$ (194.4) $ (500.2) $ (712.0) $ (776.3) $ (131.3) $ (130.3)
 
Benefit Obligations In Excess Of Fair Value Of Plan Assets
   Defined Benefit Pension Plans  Other Postretirement Benefit Plans  Postemployment Benefit Plans
   Fiscal Year  Fiscal Year  Fiscal Year
In Millions  2011  2010  2011  2010  2011  2010
Projected benefit obligation $ 335.1 $ 299.6 $ - $ - $ - $ -
Accumulated benefit obligation   280.6   252.5   1,065.8   1,060.6   131.3   130.3
Plan assets at fair value   9.0   17.3   353.8   284.3   -   -
 
Net Benefit Costs
  Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans
  Fiscal Year Fiscal Year Fiscal Year
In Millions 2011 2010 2009 2011 2010 2009 2011 2010 2009
Service cost$ 101.4$ 70.9$ 76.5$ 18.7$ 12.9$ 14.2$ 8.0$ 7.2$ 6.5
Interest cost  230.9  230.3  215.4  60.1  61.6  61.2  5.1  5.7  4.9
Expected return on plan assets  (408.5)  (400.1)  (385.8)  (33.2)  (29.2)  (30.0)  -  -  -
Amortization of losses  81.4  8.4  7.8  14.4  2.0  7.2  2.1  1.0  1.0
Amortization of prior service costs (credits)  9.0  6.9  7.4  (0.6)  (1.6)  (1.4)  2.4  2.4  2.2
Other adjustments  -  -  -  -  -  -  4.2  10.6  8.4
Net expense (income)$ 14.2$ (83.6)$ (78.7)$ 59.4$ 45.7$ 51.2$ 21.8$ 26.9$ 23.0
 
Amounts In Accumulated Other Comprehensive Income Loss To Be Recognized Over Next Fiscal Year
   Defined Benefit Pension Plans  Other Postretirement Benefit Plans  Postemployment Benefit Plans  Total
   Fiscal Year Fiscal Year Fiscal Year Fiscal Year
In Millions  2011  2010  2011  2010  2011  2010  2011  2010
Net actuarial loss $ (1,313.9) $ (1,369.9) $ (181.3) $ (225.2) $ (14.3) $ (15.9) $ (1,509.5) $ (1,611.0)
Prior service (costs) credits   (35.8)   (41.3)   20.7   1.0   (5.6)   (7.2)   (20.7)   (47.5)
Amounts recorded in accumulated other comprehensive loss $ (1,349.7) $ (1,411.2) $ (160.6) $ (224.2) $ (19.9) $ (23.1) $ (1,530.2) $ (1,658.5)

In Millions  Defined Benefit Pension Plans  Other Postretirement Benefit Plans  Postemployment Benefit Plans
Amortization of losses  $ 108.2  $ 14.4  $ 1.8
Amortization of prior service costs (credits)   8.6   (3.4)   2.1
 
Assumptions Used Benefit Obligation
 Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans
 Fiscal Year Fiscal Year Fiscal Year
 2011 2010  2011 2010  2011 2010 
Discount rate 5.45% 5.85%  5.35% 5.80%  4.77% 5.12%
Rate of salary increases 4.92  4.93   -  -   4.92  4.93 
 
Assumptions Used Net Benefit Cost
 Defined Benefit Pension Plans  Other Postretirement Benefit Plans Postemployment Benefit Plans
 Fiscal Year  Fiscal Year Fiscal Year
 2011 2010 2009  2011 2010 2009  2011 2010 2009 
Discount rate 5.85% 7.49% 6.88%  5.80% 7.45% 6.90%  5.12% 7.06% 6.64%
Rate of salary increases 4.93  4.92  4.93   -  -  -   4.93  4.93  4.93 
Expected long-term rate of return on plan assets 9.53  9.55  9.55   9.33  9.33  9.35   -  -  - 
 
Fair Value Of Plan Assets
 May 29, 2011
In Millions Level 1  Level 2  Level 3 Total Assets
Fair value measurement of pension plan assets:        
Equity (a)$ 1,052.5$ 900.2$ 568.5$ 2,521.2
Fixed income (b)  794.7  174.4  0.2  969.3
Real asset investments (c)   113.0  95.2  356.9  565.1
Other investments (d)  -  52.2  0.3  52.5
Cash and accruals  155.9  -  -  155.9
Total fair value measurement of pension plan assets$ 2,116.1$ 1,222.0$ 925.9$ 4,264.0
         
Fair value measurement of postretirement benefit plan assets:        
Equity (a)$ 13.5$ 131.0$ 26.3$ 170.8
Fixed income (b)  1.8  55.9  0.2  57.9
Real asset investments (c)   -  7.2  13.6  20.8
Other investments (d)  -  83.9  -  83.9
Cash and accruals  20.4  -  -  20.4
Fair value measurement of postretirement benefit plan assets$ 35.7$ 278.0$ 40.1$ 353.8
 May 30, 2010
In Millions Level 1  Level 2  Level 3 Total Assets
Fair value measurement of pension plan assets:        
Equity (a)$ 744.5  716.6  512.8$ 1,973.9
Fixed income (b)  700.0  206.0  3.9  909.9
Real asset investments (c)   72.4  75.8  298.7  446.9
Other investments (d)  -  39.9  0.3  40.2
Cash and accruals  158.9  -  -  158.9
Total fair value measurement of pension plan assets$ 1,675.8$ 1,038.3$ 815.7$ 3,529.8
         
Fair value measurement of postretirement benefit plan assets:        
Equity (a)$ 10.1  81.4  25.7  117.2
Fixed income (b)  1.1  46.1  1.7  48.9
Real asset investments (c)   0.1  3.7  14.6  18.4
Other investments (d)  -  71.4  -  71.4
Cash and accruals  28.4  -  -  28.4
Fair value measurement of postretirement benefit plan assets$ 39.7$ 202.6$ 42.0$ 284.3
Effect Of Significant Unobservable Inputs Changes In Plan Assets
 Fiscal 2011
In Millions Balance as of May 30, 2010 Transfers In/(Out) Purchases, Sales Issuances, and Settlements (Net) Net Gain Balance as of May 29, 2011
Pension benefit plan assets:          
Equity$ 512.8$ 2.4$ (48.1)$ 101.4$ 568.5
Fixed income  3.9  (0.9)  (4.3)  1.5  0.2
Real asset investments  298.7  -  16.0  42.2  356.9
Other investments  0.3  -  -  -  0.3
Fair value activity of pension level 3 plan assets$ 815.7$ 1.5$ (36.4)$ 145.1$ 925.9
           
Postretirement benefit plan assets:          
Equity$ 25.7$ -$ (3.7)$ 4.3$ 26.3
Fixed income  1.7  -  (1.5)  -  0.2
Real asset investments  14.6  -  (2.2)  1.2  13.6
Fair value activity of postretirement benefit level 3 plan assets:$ 42.0$ -$ (7.4)$ 5.5$ 40.1
 
Allocation Of Plan Assets
 Defined Benefit Pension Plans  Other Postretirement Benefit Plans
 Fiscal Year  Fiscal Year
 2011 2010  2011 2010 
Asset category:         
United States equities 30.1% 32.6%  37.6% 37.3%
International equities 18.9  17.1   18.7  18.3 
Private equities 13.5  14.7   7.3  9.9 
Fixed income 23.9  22.4   30.1  28.1 
Real assets 13.6  13.2   6.3  6.4 
Total 100.0% 100.0%  100.0% 100.0%
 
Expected Benefit Payments
In Millions  Defined Benefit Pension Plans  Other Postretirement Benefit Plans Gross Payments  Medicare Subsidy Receipts  Postemployment Benefit Plans
2012 $ 204.8 $ 58.6 $ 5.0 $ 18.4
2013   213.8   62.6   5.5   17.3
2014   223.3   64.6   6.0   16.3
2015   233.2   66.6   6.5   15.1
2016   243.8   39.6   7.1   14.4
2017-2021   1,402.3   387.7   38.9   66.6