Retiree Benefits (Tables)

12 Months Ended

Oct. 25, 2013

Compensation and Retirement Disclosure [Abstract]

Net periodic pension costs for U.S. plans and plans of subsidiaries outside the United States include the following components:



	U.S. Pension Plans									Non-U.S. Pension Plans
In thousands	October 25, 2013			October 26, 2012			October 28, 2011			October 25, 2013			October 26, 2012			October 28, 2011
Components of net periodic benefit cost:
Service cost	$	3,794		$	9,975		$	14,438		$	7,491		$	5,878		$	6,099
Interest cost	48,453			52,604			56,268			29,216			29,297			28,715
Expected return on assets	(64,517		)	(61,420		)	(56,269		)	(37,347		)	(36,033		)	(35,529		)
Amortization of:
Prior service cost	610			1,307			1,374			—			—			10,051
Actuarial loss	22,773			20,324			25,179			9,159			13,085			—
Curtailment loss	—			11,491			—			—			—			—
Total net periodic benefit cost	$	11,113		$	34,281		$	40,990		$	8,519		$	12,227		$	9,336

The components of the net periodic benefit cost associated with our other postretirement benefit plans, all of which relate to operations in the U.S., are as follows:



	Other Postretirement Benefit Plans
In thousands	October 25, 2013			October 26, 2012			October 28, 2011
Components of net periodic benefit cost:
Service cost	$	1,083		$	960		$	981
Interest cost	1,168			1,371			1,540
Expected return on assets	(427		)	(371		)	(342		)
Amortization of:
Prior service cost	69			52			48
Actuarial gain	(833		)	(1,160		)	(1,308		)
Special termination benefits charge	—			981			—
Total net periodic benefit cost of continuing operations	$	1,060		$	1,833		$	919

Schedule of Assumptions Used

Significant assumptions used in determining net periodic benefit cost are as follows (in weighted averages):



	U.S. Pension Plans						Non-U.S. Pension Plans						Other Postretirement Benefit Plans
	2013		2012		2011		2013		2012		2011		2013		2012		2011
Discount rate*	3.95	%	5.00	%	5.60	%	4.28	%	5.28	%	5.24	%	3.60	%	4.65	%	4.85	%
Expected return on plan assets**	6.50	%	7.00	%	7.51	%	6.64	%	6.93	%	7.22	%	7.40	%	7.50	%	8.00	%
Rate of compensation increase	—	%	4.25	%	4.25	%	4.23	%	4.22	%	4.36	%	—	%	—	%	—	%

* Due to mid-year curtailment and special termination benefit measurements, the 2012 weighted average discount rate ranged from 3.95% – 5.00% and 3.60% – 4.65% throughout the year for the U.S. pension plans and the other postretirement benefit plans, respectively.

** Due to mid-year curtailment measurements, the 2012 weighted average expected return on plan assets ranged from 6.75% – 7.00% for the U.S. pension plans.

Significant assumptions used in determining benefit obligations are as follows (in weighted averages):



	U.S. Pension Plans				Non-U.S. Pension Plans				Other Postretirement Benefit Plans
	October 25, 2013		October 26, 2012		October 25, 2013		October 26, 2012		October 25, 2013		October 26, 2012
Discount rate	4.85	%	3.95	%	4.25	%	4.28	%	4.25	%	3.60	%
Rate of compensation increase	—	%	—	%	4.21	%	4.23	%	—	%	—	%

Change In Benefit Obligations Change In Plan Assets Funded Status Amounts Recognized In Consolidated Balance Sheet and Accumulated Benefit Obligation

Changes in the projected benefit obligations and pension plan assets relating to the Company’s defined benefit pension plans and other postretirement benefit plans, together with a summary of the amounts recognized in the Consolidated Balance Sheets are set forth in the following tables:



	U.S. Pension Plans						Non -U.S. Pension Plans						Other Postretirement Benefit Plans
In thousands	October 25, 2013			October 26, 2012			October 25, 2013			October 26, 2012			October 25, 2013			October 26, 2012
Change in Benefit Obligations
Net benefit obligations at beginning of year	$	1,250,684		$	1,108,386		$	698,456		$	573,608		$	34,200		$	32,078
Service cost	3,794			9,975			7,491			5,878			1,083			960
Interest cost	48,453			52,604			29,216			29,297			1,168			1,371
Plan participants’ contributions	—			—			1,144			1,164			—			—
Plan amendments	—			7,157			—			—			(580		)	813
Actuarial loss (gain)	(115,528		)	162,370			6,998			114,815			(1,104		)	674
Currency fluctuations	—			—			2,507			2,449			—			—
Curtailments	—			(37,796		)	—			—			—			—
Special termination benefits	—			—			—			—			—			981
Gross benefits paid	(55,129		)	(52,012		)	(33,551		)	(28,755		)	(3,409		)	(2,677		)
Net benefit obligations at end of year	$	1,132,274		$	1,250,684		$	712,261		$	698,456		$	31,358		$	34,200

Change in Plan Assets
Fair value of plan assets at beginning of year	$	1,027,506		$	833,849		$	582,492		$	513,528		$	6,315		$	5,370
Actual return on plan assets	(3,552		)	104,729			4,005			50,986			1,045			526
Currency fluctuations	—			—			2,617			1,644			—			—
Employer contributions	83,829			140,940			81,883			43,925			4,450			3,096
Plan participants’ contributions	—			—			1,144			1,164			—			—
Gross benefits paid	(55,129		)	(52,012		)	(33,551		)	(28,755		)	(3,409		)	(2,677		)
Fair value of plan assets at end of year	$	1,052,654		$	1,027,506		$	638,590		$	582,492		$	8,401		$	6,315

Funded Status
Net amount recognized at end of year	$	(79,620	)	$	(223,178	)	$	(73,671	)	$	(115,964	)	$	(22,957	)	$	(27,885	)

Amounts Recognized in the Consolidated Balance Sheets Consist of:
Current liabilities	(2,755		)	(2,620		)	(731		)	(709		)	(2,234		)	(2,321		)
Non-current liabilities	(76,865		)	(220,558		)	(72,940		)	(115,255		)	(20,723		)	(25,564		)
Net amount recognized at end of year	$	(79,620	)	$	(223,178	)	$	(73,671	)	$	(115,964	)	$	(22,957	)	$	(27,885	)
Accumulated benefit obligation	$	1,132,274		$	1,250,684		$	692,135		$	644,125		$	—		$	—

Pension Plans With Accumulated Benefit Obligation In Excess of Plan Assets

The projected benefit obligations, accumulated benefit obligations and fair value of assets for pension plans with an accumulated benefit obligation in excess of plan assets are as follows:



	U.S. Pension Plans				Non U.S. Pension Plans
In thousands	October 25, 2013		October 26, 2012		October 25, 2013		October 26, 2012
Projected benefit obligation	$	1,132,274	$	1,250,684	$	649,395	$	655,010
Accumulated benefit obligation	1,132,274		1,250,684		634,509		604,675
Fair value of plan assets	1,052,654		1,027,506		576,016		539,669

Amounts Recognized In Accumulated Other Comprehensive Loss

Amounts recognized in accumulated other comprehensive loss (income) as of October 25, 2013 consist of:



	Pension Plans						Other Postretirement Benefit Plans
In thousands	U.S.			Non U.S.			Other Postretirement Benefit Plans
Net actuarial loss (gain)	$	388,421		$	302,175		$	(12,857	)
Prior service cost	1,980			—			735
Deferred tax	(94,220		)	(50,626		)	4,514
Total accumulated other comprehensive loss (income)	$	296,181		$	251,549		$	(7,608	)

Estimated Amounts That Will Be Amortized From Accumulated Other Comprehensive Loss Into Net Periodic Benefit Cost

The estimated amounts that will be amortized from accumulated other comprehensive loss (income) into net periodic benefit cost during fiscal 2014 are as follows:



	Pension Plans				Other Postretirement Benefit Plans
In thousands	U.S.		Non U.S.		Other Postretirement Benefit Plans
Net actuarial loss (gain)	$	13,096	$	8,856	$	(904	)
Prior service cost	531		—		132
	$	13,627	$	8,856	$	(772	)

Target Allocation and Weighted Average Asset Allocation

The defined benefit plans have the following target and actual asset allocations in fiscal 2013:



	U.S. Pension Plan				Non-U.S. Pension Plans
Asset Category	Target Allocation		Actual Allocation		Target Allocation		Actual Allocation
Equity securities	20	%	20	%	30	%	28	%
Debt securities	80	%	79	%	70	%	65	%
Other	—	%	1	%	—	%	7	%
Total	100	%	100	%	100	%	100	%

Fair Value Pension Plan Assets By Category

The following tables summarize the fair value of our pension and other postretirement benefit plan assets by category as of October 25, 2013 and October 26, 2012:



In Thousands	October 25, 2013
	Level 1		Level 2			Level 3		Total Assets at Fair Value
U.S. Pension Plans
Equity securities:
U.S. equities	$	146,927	$	2,590		$	—	$	149,517
Non-U.S. equities	54,502		6,829			—		61,331
Fixed income securities:
U.S. government bonds	—		343,215			—		343,215
Non-U.S. government bonds	—		13,939			—		13,939
U.S. corporate bonds	—		368,469			—		368,469
Non-U.S. corporate bonds	—		68,481			—		68,481
U.S. government mortgage backed securities	—		8,286			—		8,286
U.S. non-government backed collateralized mortgage obligations	—		8,498			—		8,498
U.S. asset backed securities	—		23,227			—		23,227
Other plan assets:
Cash and cash equivalents	5,337		—			—		5,337
Short term bills and notes	—		2,600			—		2,600
Other investments	432		(678		)	—		(246		)
Total U.S. Pension Plans assets	$	207,198	$	845,456		$	—	$	1,052,654

Non-U.S. Pension Plans
Equity securities:
U.S. equities	$	42,940	$	—		$	228	$	43,168
Non-U.S. equities	138,322		—			30		138,352
Fixed income securities:
Non-U.S. government bonds	—		105,583			—		105,583
U.S. corporate bonds	—		21,992			—		21,992
Non-U.S. corporate bonds	—		191,526			—		191,526
Non-U.S. asset backed securities	—		1,141			—		1,141
Non-U.S. annuity insurance products	—		94,315			—		94,315
Other plan assets:
Cash and cash equivalents	46,407		—			—		46,407
Other investments	—		(3,894		)	—		(3,894		)
Total Non-U.S. Pension Plans assets	$	227,669	$	410,663		$	258	$	638,590

Other Postretirement Benefits Plans
Equity securities:
U.S. equities	$	4,461	$	—		$	—	$	4,461
Non-U.S. equities	1,101		—			—		1,101
Fixed income securities:
U.S. corporate bonds	—		2,769			—		2,769
Other plan assets:
Cash and cash equivalents	70		—			—		70
Total Other Postretirement Benefit Plans	$	5,632	$	2,769		$	—	$	8,401



In Thousands	October 26, 2012
	Level 1		Level 2			Level 3		Total Assets at Fair Value
U.S. Pension Plans
Equity securities:
U.S. equities	$	158,095	$	—		$	—	$	158,095
Non-U.S. equities	62,918		—			—		62,918
Fixed income securities:
U.S. government bonds	—		347,981			—		347,981
Non-U.S. government bonds	—		7,450			—		7,450
U.S. corporate bonds	—		360,638			3,340		363,978
Non-U.S. corporate bonds	—		64,819			—		64,819
Other plan assets:
Cash and cash equivalents	22,412		—			—		22,412
Other investments	—		(147		)	—		(147		)
Total U.S. Pension Plans assets	$	243,425	$	780,741		$	3,340	$	1,027,506

Non-U.S. Pension Plans
Equity securities:
U.S. equities	$	2,806	$	—		$	—	$	2,806
Non-U.S. equities	6,705		—			—		6,705
Fixed income securities:
Non-U.S. government bonds	—		219,877			—		219,877
U.S. corporate bonds	—		—			216		216
Non-U.S. corporate bonds	—		2,495			181,821		184,316
Other fixed income securities	—		—			—		—
Other plan assets:
Cash and cash equivalents	6,542		—			—		6,542
Hedge fund	—		—			3,598		3,598
Insurance linked fund	—		—			8,885		8,885
Multi-asset fund	—		—			149,831		149,831
Other investments	—		(284		)	—		(284		)
Total Non-U.S. Pension Plans assets	$	16,053	$	222,088		$	344,351	$	582,492

Other Postretirement Benefits Plans
Equity securities:
U.S. equities	$	3,096	$	—		$	—	$	3,096
Non-U.S. equities	682		—			—		682
Fixed income securities:
U.S. corporate bonds	—		2,397			—		2,397
Other plan assets:
Cash and cash equivalents	140		—			—		140
Total Other Postretirement Benefit Plans	$	3,918	$	2,397		$	—	$	6,315

Roll Forwards of Assets Measured At Fair Value Using Level 3 Inputs

Below are roll-forwards of assets measured at fair value using Level 3 inputs for the years ended October 25, 2013 and October 26, 2012:



In Thousands
	Equities			Fixed Income			Other
U.S. Pension Plans
Balance as of October 28, 2011	$	—		$	—		$	1,283
Unrealized gains	—			—			841
Realized losses	—			—			(840		)
Sales	—			—			(1,284		)
Purchases	—			3,340			—
Transfers in and/or (out) of Level 3	—			—			—
Balance as of October 26, 2012	$	—		$	3,340		$	—
Unrealized losses	—			(478		)	—
Realized losses	—			—			—
Sales	—			(181		)	—
Purchases	—			—			—
Transfers in and/or (out) of Level 3	—			(2,681		)	—
Balance as of October 25, 2013	$	—		$	—		$	—

Non-U.S. Pension Plans
Balance as of October 28, 2011	$	65,743		$	222,420		$	—
Unrealized (losses) gains	(15,552		)	(12,945		)	60,979
Realized gains	14,401			40,969			214
Sales	(59,191		)	(200,796		)	(3,952		)
Purchases	—			132,147			99,672
Transfers (out) and/or in of Level 3	(5,401		)	242			5,401
Balance as of October 26, 2012	$	—		$	182,037		$	162,314
Unrealized gains (losses)	(22		)	(18,932		)	(8,305		)
Realized gains	—			28,133			21,704
Sales	—			(194,799		)	(175,896		)
Purchases	280			3,561			1,709
Transfers in and/or (out) of Level 3	—			—			(1,526		)
Balance as of October 25, 2013	$	258		$	—		$	—

Expected Pension and Other Postretirement Benefit Payments

The following pension and other postretirement benefit payments (which include expected future service) are expected to be paid in each of the following years:



	Pension Plan Payments				Other Postretirement Benefit Plan Payments
In thousands	U.S.		Non-U.S.		Prior to Medicare Part D		After Medicare Part D		Impact of Medicare Part D
2014	$	62,658	$	24,059	$	3,842	$	3,739	$	103
2015	62,891		24,774		3,416		3,318		98
2016	65,201		25,504		3,382		3,291		91
2017	67,767		26,225		3,374		3,290		84
2018	70,307		27,012		2,995		2,919		76
2019 - 2023	459,716		147,273		12,340		12,077		263