Components of Net Periodic Cost (Benefit) related to Pension and Other Postretirement Benefit Plans

3 Months Ended

Mar. 03, 2012

Components of Net Periodic Cost (Benefit) Related to Pension and Other Postretirement Benefit Plans Abstract

Components of Net Periodic Cost (Benefit) Related to Pension and Other Postretirement Benefit Plans Disclosure

Note 7: Components of Net Periodic Cost (Benefit) related to Pension and Other Postretirement Benefit Plans
		13 Weeks Ended March 3, 2012 and February 26, 2011
										Other
		Pension Benefits								Postretirement
		U.S. Plans				Non-U.S. Plans				Benefits
Net periodic cost (benefit):		2012		2011		2012		2011		2012		2011
Service cost	$	22	$	1,371	$	260	$	267	$	135	$	129
Interest cost		4,024		4,281		1,729		1,753		617		669
Expected return on assets		(5,938)		(6,372)		(1,800)		(1,903)		(816)		(772)
Amortization:
Prior service cost		12		17		(1)		(1)		(1,173)		(1,173)
Actuarial (gain)/ loss		964		1,501		629		655		1,295		1,483
Net periodic cost (benefit)	$	(916)	$	798	$	817	$	771	$	58	$	336

During the second quarter of 2011, we announced significant changes to our U.S. Pension Plan (the Plan). The changes include: benefits under the Plan will be locked-in using service and salary as of May 31, 2011, participants will no longer earn benefits for future service and salary as they had in the past, affected participants will receive a three percent increase to the locked-in benefit for every year they continue to work for us and we will begin making a retirement contribution of three percent of eligible compensation to the 401(k) Plan for those participants. These changes to the Plan represent a plan curtailment as there will no longer be a service cost component in the net periodic pension cost as all participants will be considered inactive in the Plan.