POST-RETIREMENT PLANS

4 Months Ended

Apr. 23, 2016

Compensation And Retirement Disclosure [Abstract]

14. POST-RETIREMENT PLANS

The following summarizes the company’s balance sheet related pension and other post-retirement benefit plan accounts at April 23, 2016 as compared to accounts at January 2, 2016 (amounts in thousands):

	April 23, 2016		January 2, 2016
Current benefit liability	$	1,118	$	1,118
Noncurrent benefit liability	$	72,601	$	76,541
Accumulated other comprehensive loss, net of tax	$	85,557	$	86,610

Defined Benefit Plans and Nonqualified Plan

Beginning January 1, 2016, the company will provide pension plan participants who have not yet started their payments the option to receive their benefit as a single lump sum payment. Participants can elect this option when they retire or when they leave the company. This change supports our long-term pension risk management strategy.

The company used a measurement date of December 31, 2015 for the defined benefit and post-retirement benefit plans described below. We believe that the difference in the fair value of plan assets between the measurement date of December 31, 2015 and our fiscal year end date of January 2, 2016 was not material and that for practical purposes the measurement date of December 31, 2015 was used throughout for preparation of our financial statements.

We do not anticipate making contributions to our qualified pension plans during fiscal 2016.

The net periodic pension cost (income) for the company’s plans include the following components (amounts in thousands):

	For the Sixteen Weeks Ended
	April 23, 2016			April 25, 2015
Service cost	$	255		$	269
Interest cost		4,532			5,539
Expected return on plan assets		(8,612	)		(9,121	)
Amortization of prior service cost		119			—
Amortization of net loss		1,798			1,532
Total net periodic benefit (income) cost	$	(1,908	)	$	(1,781	)

Post-retirement Benefit Plan

The company provides certain medical and life insurance benefits for eligible retired employees covered under the active medical plans. The plan incorporates an up-front deductible, coinsurance payments and retiree contributions at various premium levels. Eligibility and maximum period of coverage is based on age and length of service.

The net periodic post-retirement benefit (income) cost for the company includes the following components (amounts in thousands):

	For the Sixteen Weeks Ended
	April 23, 2016			April 25, 2015
Service cost	$	123		$	122
Interest cost		95			112
Amortization of prior service credit		(65	)		(144	)
Amortization of net gain		(140	)		(180	)
Total net periodic benefit (income) cost	$	13		$	(90	)

401(k) Retirement Savings Plan

The Flowers Foods 401(k) Retirement Savings Plan covers substantially all of the company’s employees who have completed certain service requirements. During the sixteen weeks ended April 23, 2016 and April 25, 2015, the total cost and employer contributions were $9.2 million and $8.5 million, respectively.

The company acquired DKB and Alpine during fiscal 2015, at the time of each acquisition we assumed sponsorship of a 401(k) savings plan. We intend to merge these two plans into the Flowers Foods 401(k) Retirement Savings Plan after receipt of final determination letters.