Income Tax (Tables)

12 Months Ended

Apr. 27, 2011

Income Tax (Tables) [Abstract]

Income tax expense (benefit), continuing operations

	2011			2010			2009
	(Dollars in thousands)
Current:
U.S. federal	$	38,686		$	(24,446	)	$	73,490
State		14,507			(809	)		1,855
Foreign		161,304			163,241			192,765
		214,497			137,986			268,110
Deferred:
U.S. federal		123,601			165,141			73,130
State		(4,318	)		8,141			8,230
Foreign		34,441			47,246			26,013
		153,724			220,528			107,373
Provision for income taxes	$	368,221		$	358,514		$	375,483

Components of income from continuing operations before income taxes

	2011		2010		2009
	(Dollars in thousands)
Domestic	$	565,831	$	499,059	$	534,217
Foreign		808,338		791,395		785,666
From continuing operations	$	1,374,169	$	1,290,454	$	1,319,883

US federal statutory tax rate reconciliation to effective tax rate

	2011			2010			2009
U.S. federal statutory tax rate		35.0	%		35.0	%		35.0	%
Tax on income of foreign subsidiaries		(5.3	)		(3.5	)		(4.1	)
State income taxes (net of federal benefit)		0.3			0.3			0.6
Earnings repatriation		3.3			1.2			0.4
Tax free interest		(4.2	)		(4.6	)		(2.5	)
Effects of revaluation of tax basis of foreign assets		(1.6	)		(0.5	)		(0.7	)
Other		(0.7	)		(0.1	)		(0.3	)
Effective tax rate		26.8	%		27.8	%		28.4	%

Deferred tax assets and liabilities

	2011			2010
	(Dollars in thousands)
Depreciation/amortization	$	939,545		$	754,353
Benefit plans		93,916			38,718
Deferred income		126,917			66,920
Financing costs		118,118			118,512
Other		48,839			102,663
Deferred tax liabilities		1,327,335			1,081,166
Operating loss carryforwards and carrybacks		(120,261	)		(159,519	)
Benefit plans		(168,001	)		(178,363	)
Depreciation/amortization		(108,873	)		(74,925	)
Tax credit carryforwards		(41,850	)		(62,284	)
Deferred income		(24,235	)		(36,373	)
Other		(109,929	)		(123,681	)
Deferred tax assets		(573,149	)		(635,145	)
Valuation allowance		64,386			62,519
Net deferred tax liabilities	$	818,572		$	508,540

Income tax contingency

	2011			2010			2009
	(Dollars in millions)
Balance at the beginning of the fiscal year	$	57.1		$	86.6		$	129.1
Increases for tax positions of prior years		13.5			3.7			9.4
Decreases for tax positions of prior years		(26.0	)		(35.4	)		(59.5	)
Increases based on tax positions related to the current year		10.8			10.4			13.1
Increases due to business combinations		26.9			—			3.8
Decreases due to settlements with taxing authorities		(5.4	)		(0.8	)		(0.8	)
Decreases due to lapse of statute of limitations		(6.2	)		(7.4	)		(8.5	)
Balance at the end of the fiscal year	$	70.7		$	57.1		$	86.6