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INCOME TAXES (Tables)

12 Months Ended

Oct. 27, 2013

Schedule of components of provision for income taxes

(in thousands)	2013		2012	2011
Current:
U.S. Federal	$231,359		$216,620	$202,084
State	30,671		26,303	26,978
Foreign	5,334		5,783	3,826
Total current	267,364		248,706	232,888
Deferred:
U.S. Federal	1,080		4,443	6,358
State	(194	)	225	394
Foreign	181		–	–
Total deferred	1,067		4,668	6,752
Total provision for income taxes	$268,431		$253,374	$239,640

Schedule of significant components of the deferred income tax liabilities and assets

(in thousands)	October 27, 2013		October 28, 2012
Deferred tax liabilities:
Tax over book depreciation	$ (89,823	)	$ (91,545	)
Book/tax basis difference from acquisitions	(25,442	)	(26,295	)
Other, net	(92,813	)	(76,851	)
Deferred tax assets:
Post-retirement benefits	127,093		147,278
Stock options	32,036		32,210
Deferred compensation	25,089		23,115
Insurance accruals	19,007		16,728
Vacation accruals	15,073		14,905
Promotional accruals	10,779		7,524
Federal benefit of state tax	7,786		9,965
Pension benefits	5,249		96,641
Other, net	64,595		59,130
Net deferred tax assets	$ 98,629		$ 212,805

Schedule of reconciliation of the statutory federal income tax rate to the effective tax rate

	2013		2012		2011
U.S. statutory rate	35.0	%	35.0	%	35.0	%
State taxes on income, net of federal tax benefit	2.7		2.5		2.7
Domestic production activities deduction	(2.4	)	(2.6	)	(2.6	)
All other, net	(1.7	)	(1.5	)	(1.8	)
Effective tax rate	33.6	%	33.4	%	33.3	%

Schedule of changes in the unrecognized tax benefits, excluding interest and penalties

(in thousands)
Balance as of October 30, 2011	$ 21,398
Tax positions related to the current period:
Increases	3,066
Decreases	–
Tax positions related to prior periods:
Increases	1,302
Decreases	(2,541	)
Settlements	(624	)
Decreases related to a lapse of applicable statute of limitations:	(470	)
Balance as of October 28, 2012	$ 22,131
Tax positions related to the current period:
Increases	4,353
Decreases	–
Tax positions related to prior periods:
Increases	3,091
Decreases	(4,738	)
Settlements	(1,173	)
Decreases related to a lapse of applicable statute of limitations:	(3,579	)
Balance as of October 27, 2013	$ 20,085

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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