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

9 Months Ended

Sep. 01, 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 September 1, 2012 and August 27, 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	$	23	$	12	$	312	$	285	$	136	$	128
Interest cost		4,025		4,041		2,077		1,857		618		669
Expected return on assets		(5,942)		(6,231)		(2,049)		(2,015)		(815)		(772)
Amortization:
Prior service cost		12		(1)		(1)		(1)		(1,174)		(1,173)
Actuarial (gain)/ loss		965		504		601		699		1,288		1,484
Net periodic cost (benefit)	$	(917)	$	(1,675)	$	940	$	825	$	53	$	336
		39 Weeks Ended September 1, 2012 and August 27, 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	$	67	$	2,292	$	901	$	835	$	406	$	385
Interest cost		12,073		12,401		5,971		5,453		1,852		2,007
Expected return on assets		(17,818)		(18,728)		(5,985)		(5,918)		(2,447)		(2,316)
Amortization:
Prior service cost		36		126		(3)		(3)		(3,520)		(3,520)
Actuarial (gain)/ loss		2,893		3,153		1,864		2,046		3,866		4,450
Net periodic cost (benefit)	$	(2,749)	$	(756)	$	2,748	$	2,413	$	157	$	1,006

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