Pension Plans

3 Months Ended

Apr. 30, 2011

Pension Plans [Abstract]

Pension Plans

Note 6 — Pension Plans

The Company has a pension plan that covers a select group of management employees (“Payless Plan”), a pension plan that covers certain PLG employees (“PLG Plan”) and a pension plan that covers certain employees in Asia (“Asia Plan”). To calculate pension expense, the Company uses assumptions to estimate the total benefits ultimately payable to each management employee and allocates this cost to service periods.

Payless Plan

The Payless Plan is a nonqualified, supplementary account balance defined benefit plan for a select group of management employees. The plan is an unfunded, noncontributory plan. The components of pension expense for the plan were:

	13 Weeks Ended
	April 30,		May 1,
(dollars in millions)	2011		2010
Components of pension expense:
Service cost	$	0.2	$	0.2
Interest cost		0.5		0.5
Amortization of prior service cost		0.4		0.4
Amortization of actuarial loss		0.4		0.3
Total	$	1.5	$	1.4

PLG Plan

The PLG Plan is a noncontributory defined benefit pension plan covering certain eligible PLG associates. The components of pension expense for the plan were:

	13 Weeks Ended
	April 30,			May 1,
(dollars in millions)	2011			2010
Components of pension expense:
Interest cost	$	1.2		$	1.1
Expected return on net assets		(1.3	)		(1.2	)
Amortization of actuarial loss		0.3			0.3
Total	$	0.2		$	0.2

Asia Plan

The Asia Plan is a nonqualified, supplementary account balance defined benefit plan for a select group of employees in Asia. The plan is an unfunded, noncontributory plan. The components of pension expense for the plan were not significant for the thirteen weeks ended April 30, 2011 and May 1, 2010.