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Retirement Plans
3 Months Ended
Mar. 31, 2018
Compensation And Retirement Disclosure [Abstract]  
Retirement Plans

14.

RETIREMENT PLANS

The Company has defined benefit and defined contribution retirement plans for its employees, and provides certain health care benefits to eligible retirees and their dependents. The components of net periodic benefit (credits) costs for pension and other postretirement benefits, for Company sponsored plans, are provided below (in thousands):

 

 

 

13-Weeks Ended

 

 

 

Pension Benefits

 

 

Other Postretirement Plans

 

 

 

March 31,

2018

 

 

April 1,

2017

 

 

March 31,

2018

 

 

April 1,

2017

 

Components of net periodic benefit (credits) costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

573

 

 

$

506

 

 

$

9

 

 

$

10

 

Interest cost

 

 

8,781

 

 

 

10,138

 

 

 

59

 

 

 

72

 

Expected return on plan assets

 

 

(12,780

)

 

 

(11,964

)

 

 

 

 

 

 

Amortization of prior service cost

 

 

1

 

 

 

35

 

 

 

2

 

 

 

1

 

Amortization of net loss (gain)

 

 

846

 

 

 

1,051

 

 

 

(39

)

 

 

(13

)

Net periodic benefit (credits) costs

 

$

(2,579

)

 

$

(234

)

 

$

31

 

 

$

70

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The service cost component of net periodic benefit (credits) costs is included in distribution, selling and administrative costs, while the other components of net periodic benefit (credits) costs are included in other income—net, respectively, in the Consolidated Statement of Comprehensive Income.

The Company contributed $10 million to its defined benefit and other postretirement plans during both 13-week periods ended March 31, 2018 and April 1, 2017. In April 2018, with an additional $25 million contribution, the Company completed substantially all of the 2018 planned contributions to its defined benefit and other postretirement plans.

The Company’s employees are eligible to participate in a Company sponsored defined contribution 401(k) plan that provides for Company matching on the participant’s contributions of up to 100% of the first 3% of participant’s compensation and 50% of the next 2% of a participant’s compensation, for a maximum Company matching contribution of 4%. The Company’s 401(k) plan matching contributions were $13 million and $12 million for the 13-weeks ended March 31, 2018 and April 1, 2017, respectively.

The Company also contributes to numerous multiemployer pension plans under the terms of certain collective bargaining agreements that cover its union-represented employees. The Company does not administer these multiemployer pension plans. The Company’s contributions to these plans were $9 million during both 13-week periods ended March 31, 2018 and April 1, 2017.