Retiree Benefits (Tables)

12 Months Ended

Oct. 26, 2012

Employer Matching Expense Defined Benefit Contribution Expense and Pension Expense

The employer match and defined benefit contribution expense are as follows:

In millions	2012		2011		2010
Employer matching expense	$	12.2	$	8.1	$	6.7
Defined benefit contribution expense	$	30.6	$	22.3	$	17.8

Total pension expense for all defined benefit plans is as follows:

In millions	2012		2011		2010
Pension expense	$	46.5	$	50.3	$	50.3

Components of Net Periodic Benefit Cost

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

	U.S. Pension Plans									Non-U.S. Pension Plans
In thousands	2012			2011			2010			2012			2011			2010
Components of net periodic benefit cost:
Service cost	$	9,975		$	14,438		$	14,636		$	5,878		$	6,099		$	6,135
Interest cost		52,604			56,268			54,473			29,297			28,715			28,244
Expected return on assets		(61,420	)		(56,269	)		(52,723	)		(36,033	)		(35,529	)		(32,451	)
Amortization of:
Prior service cost		1,307			1,374			1,158			—			10,051			—
Actuarial loss		20,324			25,179			23,347			13,085			—			7,434
Curtailment loss		11,491			—			—			—			—			12
Total net periodic benefit cost	$	34,281		$	40,990		$	40,891		$	12,227		$	9,336		$	9,374

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

	Other Postretirement Benefit Plans
In thousands	2012			2011			2010
Components of net periodic benefit cost:
Service cost	$	960		$	981		$	916
Interest cost		1,371			1,540			1,618
Expected return on assets		(371	)		(342	)		(223	)
Amortization of:
Prior service cost		52			48			—
Actuarial (gain) loss		(1,160	)		(1,308	)		173
Special termination benefits charge		981			—			—
Total net periodic benefit cost of continuing operations	$	1,833		$	919		$	2,484

Significant Assumptions Used In Determining Net Periodic Benefit Cost and Benefit Obligations

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

	U.S. Pension Plans									Non-U.S. Pension Plans									Other Postretirement Benefit Plans
	2012			2011			2010			2012			2011			2010			2012			2011			2010
Discount rate*		5.00	%		5.60	%		5.55	%		5.28	%		5.24	%		5.66	%		4.65	%		4.85	%		4.90	%
Expected return on plan assets**		7.00	%		7.51	%		8.10	%		6.93	%		7.22	%		7.22	%		7.50	%		8.00	%		8.00	%
Rate of compensation increase		4.25	%		4.25	%		4.25	%		4.22	%		4.36	%		4.70	%		—			—			—

* 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 as of the fiscal year ended are as follows (in weighted averages):

	U.S. Pension Plans						Non-U.S. Pension  Plans						Other Postretirement Benefit Plans
	2012			2011			2012			2011			2012			2011
Discount rate		3.95	%		5.00	%		4.28	%		5.28	%		3.60	%		4.65	%
Rate of compensation increase		—			4.25	%		4.23	%		4.22	%		—			—

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 obligations together with a summary of the amounts recognized in the Consolidated Balance Sheet are set forth in the following tables:

	U.S. Pension Plans						Non -U.S. Pension Plans						Other Postretirement Benefit Plans
In thousands	October 26, 2012			October 28, 2011			October 26, 2012			October 28, 2011			October 26, 2012			October 28, 2011
Change in Benefit Obligations
Net benefit obligations at beginning of year	$	1,108,386		$	1,016,027		$	573,608		$	550,801		$	32,078		$	34,293
Service cost		9,975			14,438			5,878			6,099			960			981
Interest cost		52,604			56,268			29,297			28,715			1,371			1,540
Plan participants’ contributions		—			—			1,164			1,147			—			—
Plan amendments		7,157			336			—			—			813			—
Actuarial loss (gain)		162,370			70,355			114,815			8,889			674			(2,044	)
Currency fluctuations		—			—			2,449			6,123			—			—
Curtailments		(37,796	)		—			—			—			—			—
Special termination benefits		—			—			—			—			981			—
Gross benefits paid		(52,012	)		(49,038	)		(28,755	)		(28,166	)		(2,677	)		(2,692	)
Net benefit obligations at end of year	$	1,250,684		$	1,108,386		$	698,456		$	573,608		$	34,200		$	32,078
Change in Plan Assets
Fair value of plan assets at beginning of year	$	833,849		$	652,355		$	513,528		$	483,043		$	5,370		$	4,602
Actual return on plan assets		104,729			89,173			50,986			11,739			526			89
Currency fluctuations		—			—			1,644			5,384			—			—
Employer contributions		140,940			141,359			43,925			39,538			3,096			3,371
Plan participants’ contributions		—			—			1,164			1,147			—			—
Gross benefits paid		(52,012	)		(49,038	)		(28,755	)		(28,166	)		(2,677	)		(2,692	)
Fair value of plan assets at end of year	$	1,027,506		$	833,849		$	582,492		$	512,685		$	6,315		$	5,370
Funded Status
Net amount recognized at end of year	$	(223,178	)	$	(274,537	)	$	(115,964	)	$	(60,923	)	$	(27,885	)	$	(26,708	)
Amounts Recognized in the Consolidated Balance Sheet Consist of:
Current liabilities	$	(2,620	)	$	(2,253	)	$	(709	)	$	(755	)	$	(2,321	)	$	(2,653	)
Other non-current liabilities		(220,558	)		(272,284	)		(115,255	)		(60,168	)		(25,564	)		(24,055	)
Net amount recognized at end of year	$	(223,178	)	$	(274,537	)	$	(115,964	)	$	(60,923	)	$	(27,885	)	$	(26,708	)
Accumulated benefit obligation	$	1,250,684		$	1,059,049		$	644,125		$	512,913		$	—		$	—

Amounts Recognized In Accumulated Other Comprehensive Loss

Amounts recognized in accumulated other comprehensive (gain) / loss as of October 26, 2012 consists of:

	Pension Plans						Other Postretirement
In thousands	U.S.			Non U.S.			Benefit Plans
Net actuarial loss (gain)	$	458,653		$	269,641		$	(11,968	)
Prior service cost		2,590			—			1,384
Deferred tax		(121,451	)		(43,303	)		3,890
Total accumulated other comprehensive loss (income)	$	339,792		$	226,338		$	(6,694	)

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 (gain) / loss into net periodic benefit cost during 2013 are as follows:

In thousands	Pension Plans				Other Postretirement
	U.S.		Non U.S.		Benefit Plans
Actuarial (gain) / loss	$	19,656	$	19,786	$	(922	)
Prior service cost		610		—		167
	$	20,266	$	19,786	$	(755	)

Target Allocation and Weighted Average Asset Allocation

The defined benefit plans had the following target asset allocation and weighted-average asset allocations as of October 26, 2012 and October 28, 2011.

	U.S. Pension Plan									Non-U.S. Pension Plans*
	Target									Target
Asset Category	Allocation			2012			2011			Allocation			2012			2011
Equity securities		25	%		22	%		30	%		13	%		9	%		22	%
Debt securities		75	%		76	%		70	%		79	%		83	%		19	%
Other		—			2	%		—			8	%		8	%		59	%
Total		100	%		100	%		100	%		100	%		100	%		100	%

* The current target asset allocation for the Non-U.S. Pension Plans is 32% return seeking and 68% liability hedging, with the return seeking assets distributed among the equity, fixed income, other asset categories

Fair Value Pension Plan Assets By Category

The following tables summarize the fair value of our pension plan assets by category at October 26, 2012 and October 28, 2011 within the fair value hierarchy as defined by ASC 820:

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
Cash and cash equivalents		22,412		—			—		22,412
Other		—		(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		—		219,183			—		219,183
U.S corporate bonds		—		—			216		216
Non-U.S. corporate bonds		—		2,495			181,821		184,316
Other		—		—			—		—
Other									—
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		—		(284	)		—		(284	)
Total Non-U.S. Pension Plans assets	$	16,053	$	221,394		$	344,351	$	581,798
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									—
Cash and cash equivalents		140		—			—		140
Total Other Postretirement Benefit Plans	$	3,918	$	2,397		$	—	$	6,315

In Thousands	October 28, 2011
	Level 1		Level 2		Level 3		Total Assets at Fair Value
U.S . Pension Plans
Equity securities:
U. S. equities	$	171,575	$	—	$	—	$	171,575
Non-U.S. equities		70,069		—		—		70,069
Fixed income securities:
U.S. government bonds		—		272,722		—		272,722
Non-U.S. government bonds		—		15,569		—		15,569
U.S. corporate bonds		—		247,664		—		247,664
Non-U.S. corporate bonds		—		33,495		—		33,495
Other								—
Cash and cash equivalents		19,629		—		—		19,629
Hedge fund		—		—		1,283		1,283
Other		—		1,843		—		1,843
Total U.S. Pension Plans assets	$	261,273	$	571,293	$	1,283	$	833,849
Non-U.S . Pension Plans
Equity securities:
U.S. equities	$	28,745	$	84	$	—	$	28,829
Non-U.S. equities		22,193		—		65,743		87,936
								—
Fixed income securities:								—
U.S. government bonds		—		699		—		699
Non-U.S. government bonds		—		19,379		—		19,379
U.S corporate bonds		—		16,103		—		16,103
Non-U.S. corporate bonds		—		93,095		222,420		315,515
Other		—		2,156		—		2,156
Other								—
Cash and cash equivalents		42,068		—		—		42,068
Total Non-U.S. Pension Plans assets	$	93,006	$	131,516	$	288,163	$	512,685
Other Postretirement Benefits Plans
Equity securities:
U.S. equities	$	2,429	$	—	$	—	$	2,429
Non-U.S. equities		689		—		—		689
								—
Fixed income securities:								—
U.S. government bonds		—		1,193		—		1,193
U.S. corporate bonds		—		977		—		977
Other								—
Cash and cash equivalents		82		—		—		82
Total Other Postretirement Benefit Plans	$	3,200	$	2,170	$	—	$	5,370

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 year ended October 26, 2012 and October 28, 2011:

In Thousands
	Equities			Fixed Income			Other
U.S. Pension Plans
Balance as of October 29, 2010	$	21,291		$	393		$	46,146
Unrealized gains (losses)		(5,483	)		1,096			1,185
Realized gains (losses)		8,116			(831	)		—
Sales		(23,924	)		(658	)		(46,048	)
Purchases		—			—			—
Transfers in and/or (out) of level 3		—			—			—
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		$	—
Non-U.S. Pension Plans
Balance as of October 29, 2010	$	143,284		$	122,037		$	—
Unrealized gains (losses)		(8,532	)		31,185			—
Realized gains		13,234			47			—
Sales		(82,243	)		(765	)		—
Purchases		—			76,485			—
Transfers in and/or (out) of level 3		—			(6,569	)		—
Balance as of October 28, 2011	$	65,743		$	222,420		$	—
Unrealized gains (losses)		(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 in and/or (out) of level 3		(5,401	)		242			5,401
Balance as of October 26, 2012	$	—		$	182,037		$	162,314

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
2013	$	56,966	$	27,681	$	3,924	$	3,806	$	118
2014		61,254		28,433		4,864		4,752		112
2015		63,588		29,216		4,297		4,191		106
2016		65,941		30,008		3,644		3,546		98
2017		68,581		30,796		3,560		3,470		90
2018 - 2022		375,300		166,889		12,654		12,339		315

Pension Plans With Accumulated Benefit Obligation In Excess of Plan Assets

The projected benefit obligations, accumulated benefits obligations, and fair value of plan assets for underfunded and overfunded plans have been combined for disclosure purposes. 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	2012		2011		2012		2011
Projected benefit obligation	$	1,250,684	$	1,108,386	$	655,010	$	27,417
Accumulated benefit obligation		1,250,684		1,059,049		604,675		23,895
Fair value of plan assets		1,027,506		833,849		539,669		14,929