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Retirements and Welfare (Tables)

12 Months Ended

Apr. 25, 2015

Schedule of amounts recognized in accumulated other comprehensive loss

The changes in plan assets and benefit obligations were recognized in accumulated other comprehensive loss as follows (pre-tax) (for the fiscal years ended):

(Amounts in thousands)	4/25/2015			4/26/2014
Beginning of year net actuarial loss	$	39,425		$	48,745
Net current year actuarial (gain) loss		836			(5,932	)
Amortization of actuarial loss		(2,659	)		(3,388	)

End of year net actuarial loss	$	37,602		$	39,425

Schedule of net periodic pension cost and retirement costs

The combined net periodic pension cost and retirement costs for retirement plans related to continuing operations were as follows (for the fiscal years ended):

(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Service cost	$	1,114		$	1,241		$	1,231
Interest cost		5,070			4,822			5,325
Expected return on plan assets		(5,077	)		(6,800	)		(6,855	)
Net amortization and deferral		2,658			3,388			3,024

Net periodic pension cost (hourly plan)		3,765			2,651			2,725
401(k)*		6,270			5,802			5,198
PCRP*		1,377			2,513			—
Other*		124			223			191

Total retirement costs (excluding non-qualified defined benefit retirement plan)	$	11,536		$	11,189		$	8,114

*Not determined by an actuary

Schedule of funded status of the defined benefit pension plan

The funded status of the defined benefit pension plan for eligible factory hourly employees was as follows:

(Amounts in thousands)	4/25/2015			4/26/2014
Change in benefit obligation
Benefit obligation at beginning of year	$	116,870		$	123,495
Service cost		1,114			1,241
Interest cost		5,070			4,822
Actuarial (gain) loss		3,664			(3,565	)
Benefits paid		(5,638	)		(9,123	)

Benefit obligation at end of year		121,080			116,870
Change in plan assets
Fair value of plan assets at beginning of year		111,474			111,430
Actual return on plan assets		7,906			9,494
Other expenses		—			(327	)
Benefits paid		(5,638	)		(9,123	)

Fair value of plan assets at end of year		113,742			111,474

Funded status	$	(7,338	)	$	(5,396	)

Schedule of amounts included in the consolidated balance sheet related to the defined benefit pension plan

Amounts included in the consolidated balance sheet related to the defined benefit pension plan for eligible factory hourly employees consist of:

(Amounts in thousands)		4/25/2015			4/26/2014
Other long-term liabilities		$	(7,338	)	$	(5,396	)

Schedule of actuarial assumptions for the defined benefit pension plan

The actuarial assumptions for the defined benefit pension plan for eligible factory hourly employees were as follows (for the fiscal years ended):

	4/25/2015			4/26/2014			4/27/2013
Discount rate used to determine benefit obligations		4.2	%		4.4	%		4.0	%
Discount rate used to determine net benefit cost		4.4	%		4.0	%		4.6	%
Long-term rate of return		4.7	%		4.7	%		6.3	%

Schedule of fair value of the assets in the defined benefit pension plan

The following table presents the fair value of the assets in our defined benefit pension plan for eligible factory hourly employees at April 25, 2015, and April 26, 2014. The various levels of the fair value hierarchy are described in Note 19.

Fiscal 2015

(Amounts in thousands)	Level 1(a)		Level 2(a)		Level 3
Cash and equivalents	$	149	$	3,685	$	—
Equity funds		23,120		7,702		—
Debt funds		—		79,086		—

Total	$	23,269	$	90,473	$	—

(a)

There were no transfers between Level 1 and Level 2 during fiscal 2015.

Fiscal 2014

(Amounts in thousands)	Level 1(b)		Level 2(b)		Level 3
Cash and equivalents	$	207	$	6,083	$	—
Equity funds		22,623		7,736		—
Debt funds		—		74,825		—

Total	$	22,830	$	88,644	$	—

(b)

There were no transfers between Level 1 and Level 2 during fiscal 2014.

Schedule of expected benefit payments for each of the next five fiscal years and for periods thereafter

The expected benefit payments by our defined benefit pension plan for eligible factory hourly employees for each of the next five fiscal years and for periods thereafter are presented in the following table:

(Amounts in thousands)	Benefit Payments
2016	$	6,195
2017		6,340
2018		6,504
2019		6,675
2020		6,856
2021 to 2025		36,373

	$	68,943