Other Compensation Plans

9 Months Ended

Jan. 23, 2015

Compensation and Retirement Disclosure [Abstract]

Other Compensation Plans

Other Compensation Plans

We have a 401(k) plan that is available to substantially all employees who have at least 1,000 hours of service. In the third quarter of fiscal 2015, the Board of Directors approved a discretionary match of employee 401(k) contributions made during the 2014 calendar year, and as a result we recorded a $1,915 expense in the three months ended January 23, 2015. This expense was recorded in the S,G&A line of the Consolidated Statements of Net Income.

We also have nonqualified deferred compensation plans, the BEEDP and BEDDP, which provides certain executives and members of Board of Directors, respectively, the opportunity to defer a portion of their current income to future years. A third party manages the investments of employee and Board of Directors deferrals. Gains and losses related to investment results of these deferrals are recorded within the S,G&A line in the Consolidated Statements of Net Income.

The SERP provides awards to a limited number of executives in the form of nonqualified deferred cash compensation. Gains and losses related to these benefits and the related investment results are recorded within the S,G&A caption in the consolidated statements of net income.

Effective January 1, 2015, we made modifications to our vacation benefit policy for salaried employees which resulted in a reduction to our accrued vacation liability of $909 in the quarter ended January 23, 2015. The benefit was recorded in the Operating wages and fringe benefit expenses line in the Consolidated Statements of Net Income.