Defined Benefit Pension Plans and Other Benefit Plans

6 Months Ended

Jul. 30, 2016

Compensation and Retirement Disclosure [Abstract]

Defined Benefit Pension Plans and Other Benefit Plans

Defined Benefit Pension Plans and Other Benefit Plans

Components of Net Periodic Benefit Cost
	Pension Benefits						Other Benefits
	Three Months Ended						Three Months Ended
In thousands	July 30, 2016			August 1, 2015			July 30, 2016		August 1, 2015
Service cost	$	137		$	112		$	165	$	209
Interest cost	1,028			1,062			66		62
Expected return on plan assets	(1,410		)	(1,446		)	—		—
Amortization:
Losses	195			1,197			25		48
Net amortization	195			1,197			25		48
Net Periodic Benefit Cost (Gain)	$	(50	)	$	925		$	256	$	319

Components of Net Periodic Benefit Cost
	Pension Benefits						Other Benefits
	Six Months Ended						Six Months Ended
In thousands	July 30, 2016			August 1, 2015			July 30, 2016		August 1, 2015
Service cost	$	275		$	225		$	330	$	419
Interest cost	2,062			2,140			132		123
Expected return on plan assets	(2,822		)	(2,895		)	—		—
Amortization:
Losses	421			2,554			50		96
Net amortization	421			2,554			50		96
Net Periodic Benefit Cost (Gain)	$	(64	)	$	2,024		$	512	$	638

There is no cash contribution required for the pension plan in 2016.

Note 6

Defined Benefit Pension Plans and Other Benefit Plans, Continued

The actual net periodic pension cost for Fiscal 2017 is less than estimated due primarily to updating the average years of future service from 9.0 years to 9.67 years. The change resulted in lower amortization which was included in expense. As a result, the expected benefit payments in the future have changed. Expected benefit payments from the trust, including future service and pay, are as follows:

Estimated future payments	Pension Benefits ($ in millions)
2017	$	7.9
2018	7.7
2019	7.6
2020	7.4
2021	7.2
2022 - 2026	32.7

Pension Plan Buyout

In June 2016, the Company's board of directors authorized an offer to terminated vested participants in the Company's defined benefits pension plan to buy out their future benefits under the plan for a lump sum cash payment. The Company anticipates making the buyout offer in the fourth quarter of Fiscal 2017.