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Employee Benefit Plans (Tables)
 12 Months Ended
Oct. 26, 2014
Compensation and Retirement Disclosure [Abstract]  
Changes in benefit obligations and plan assets including post-retirement benefits
A summary of the changes in benefit obligations and plan assets, which includes post-retirement benefits, for fiscal October 26, 2014 and October 27, 2013 is presented below.
 
 
2014
 
2013
 
 
 
 
 
(In millions, except percentages)
Change in projected benefit obligation
 
 
 
Beginning projected benefit obligation
$
445

 
$
434

Service cost
17

 
20

Interest cost
17

 
15

Plan participants’ contributions
1

 
1

Actuarial (gain) loss
62

 
(16
)
Curtailments, settlements and special termination benefits
(26
)
 
(8
)
Foreign currency exchange rate changes
(22
)
 
10

Benefits paid
(12
)
 
(10
)
Plan amendments and business combinations
(3
)
 
(1
)
Ending projected benefit obligation
$
479

 
$
445

Ending accumulated benefit obligation
$
446

 
$
409

Range of assumptions to determine benefit obligations
 
 
 
Discount rate
1.0% - 4.4%

 
1.1% - 4.5%

Rate of compensation increase
2.0% - 4.0%

 
2.0% - 4.7%

Change in plan assets
 
 
 
Beginning fair value of plan assets
$
248

 
$
214

Return on plan assets
20

 
18

Employer contributions
48

 
24

Plan participants’ contributions
1

 
1

Foreign currency exchange rate changes
(11
)
 
8

Divestitures, settlements and business combinations
(26
)
 
(7
)
Benefits paid
(12
)
 
(10
)
Ending fair value of plan assets
$
268

 
$
248

Funded status
$
(211
)
 
$
(197
)
Amounts recognized in the consolidated balance sheets
 
 
 
Noncurrent asset
$
17

 
$
9

Current liability
(3
)
 
(4
)
Noncurrent liability
(225
)
 
(202
)
Total
$
(211
)
 
$
(197
)
Estimated amortization from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal year
 
 
 
Actuarial loss
$
6

 
$
4

Prior service cost (credit)
—

 
—

Total
$
6

 
$
4

Amounts recognized in accumulated other comprehensive loss
 
 
 
Net actuarial loss
$
134

 
$
91

Prior service cost (credit)
(1
)
 
2

Total
$
133

 
$
93

Plans with projected benefit obligations in excess of plan assets
 
 
 
Projected benefit obligation
$
326

 
$
438

Fair value of plan assets
$
98

 
$
233

Plans with accumulated benefit obligations in excess of plan assets
 
 
 
Accumulated benefit obligation
$
297

 
$
269

Fair value of plan assets
$
98

 
$
99

 
 
2014
 
2013
Plan assets — allocation
 
 
 
Equity securities
39
%
 
37
%
Debt securities
38
%
 
36
%
Insurance contracts
15
%
 
19
%
Other investments
5
%
 
5
%
Cash
3
%
 
3
%
Summary of ending fair value of the plan assets
The following table presents a summary of the ending fair value of the plan assets:
 
 
October 26, 2014
 
October 27, 2013
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In millions)
Equity securities
$
38

 
$
66

 
$
—

 
$
104

 
$
27

 
$
65

 
$
—

 
$
92

Debt securities
8

 
94

 
—

 
102

 
6

 
84

 
—

 
90

Insurance contracts
—

 
—

 
41

 
41

 
—

 
—

 
47

 
47

Other investments
—

 
12

 
—

 
12

 
—

 
12

 
—

 
12

Cash
9

 
—

 
—

 
9

 
7

 
—

 
—

 
7

Total
$
55

 
$
172

 
$
41

 
$
268

 
$
40

 
$
161

 
$
47

 
$
248
Activity in Level 3 instruments
The following table presents the activity in Level 3 instruments during fiscal 2014 and 2013:
 
 
2014
 
2013
 
 
 
 
 
(In millions)
Balance, beginning of year
$
47

 
$
49

Actual return on plan assets:
 
 
 
Relating to assets still held at reporting date
—

 
(1
)
Purchases, sales, settlements, net
(2
)
 
(4
)
Currency impact
(4
)
 
3

Balance, end of year
$
41

 
$
47
Schedule of net benefit costs and assumptions used
A summary of the components of net periodic benefit costs and the weighted average assumptions used for net periodic benefit cost and benefit obligation calculations for fiscal 2014, 2013 and 2012 is presented below.
 
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
(In millions, except percentages)
Components of net periodic benefit cost
 
 
 
 
 
Service cost
$
17

 
$
20

 
$
16

Interest cost
17

 
15

 
14

Expected return on plan assets
(14
)
 
(12
)
 
(11
)
Amortization of actuarial loss and prior service credit
4

 
6

 
—

Settlement and curtailment loss
3

 
—

 
6

Net periodic benefit cost
$
27

 
$
29

 
$
25

Weighted average assumptions
 
 
 
 
 
Discount rate
3.68
%
 
3.46
%
 
4.53
%
Expected long-term return on assets
5.64
%
 
5.38
%
 
5.91
%
Rate of compensation increase
3.29
%
 
3.07
%
 
3.09
%
Schedule of expected benefit payments
Future expected benefit payments for the pension plans and the post-retirement plan over the next ten fiscal years are as follows:
 
Benefit Payments
 
(In millions)
2015
$
12

2016
13

2017
13

2018
14

2019
14

2020-2024
81

 
$
147