Note 9 - Post Employment Benefit Obligations

3 Months Ended

Feb. 25, 2017

Notes to Financial Statements

Postemployment Benefits Disclosure [Text Block]

9.

Post Employment Benefit Obligations

We have an unfunded Supplemental Retirement Income Plan (the “Supplemental Plan”) that covers

one

current and certain former executives. The liability for this plan was

$11,871

and

$11,863

as of

February

25,

2017

and

November

26,

2016,

respectively, and is recorded as follows in the condensed consolidated balance sheets:

	February 25, 2017		November 26, 2016
Accrued compensation and benefits	$	776	$	776
Post employment benefit obligations		11,095		11,087
Total pension liability	$	11,871	$	11,863

Components of net periodic pension costs are as follows:

	Quarter Ended
	February 25, 2017		February 27, 2016
Service cost	$	38	$	36
Interest cost		107		106
Amortization of transition obligation		11		11
Amortization of loss		83		81
Net periodic pension cost	$	239	$	234

The components of net periodic pension cost other than the service cost component are included in other loss, net in our condensed consolidated statements of income.

We have an unfunded Deferred Compensation Plan that covers

one

current executive and certain former executives and provides for voluntary deferral of compensation. This plan has been frozen with no additional participants or deferrals permitted. Our liability under this plan was

$1,949

and

$1,969

as of

February

25,

2017

and

November

26,

2016,

respectively, and is recorded as follows in the condensed consolidated balance sheets:

	February 25, 2017		November 26, 2016
Accrued compensation and benefits	$	296	$	296
Post employment benefit obligations		1,653		1,673
Total deferred compensation liability	$	1,949	$	1,969

We recognized expense under this plan during the quarters ended

February

25,

2017

and

February

27,

2016

as follows:

	Quarter Ended
	February 25, 2017		February 27, 2016
Deferred compensation expense	$	54	$	57