PENSION AND OTHER POST-RETIREMENT BENEFITS

9 Months Ended

Jul. 30, 2017

PENSION AND OTHER POST-RETIREMENT BENEFITS

PENSION AND OTHER POST-RETIREMENT BENEFITS

NOTE FPENSION AND OTHER POST-RETIREMENT BENEFITS

Net periodic benefit cost for pension and other post-retirement benefit plans consists of the following:

	Pension Benefits
	Three Months Ended				Nine Months Ended
(in thousands)	July 30, 2017		July 24, 2016		July 30, 2017		July 24, 2016
Service cost	$	7,564	$	6,645	$	22,692	$	20,005
Interest cost	13,565		13,674		40,697		41,030
Expected return on plan assets	(22,734)		(21,716)		(68,202)		(65,071)
Amortization of prior service cost	(750)		(1,037)		(2,250)		(3,169)
Recognized actuarial loss	6,542		4,787		19,625		13,958
Curtailment gain	-		(4,438)		-		(4,438)
Net periodic cost	$	4,187	$	(2,085)	$	12,562	$	2,315

	Post-retirement Benefits
	Three Months Ended				Nine Months Ended
(in thousands)	July 30, 2017		July 24, 2016		July 30, 2017		July 24, 2016
Service cost	$	275	$	317	$	824	$	950
Interest cost	2,871		3,236		8,613		9,708
Amortization of prior service cost	(1,069)		(1,050)		(3,206)		(3,151)
Recognized actuarial loss	598		392		1,825		1,176
Net periodic cost	$	2,675	$	2,895	$	8,056	$	8,683

During the third quarter of fiscal 2017, the Company made discretionary contributions of $16.1 million to fund its pension plans, compared to discretionary contributions of $25.7 million during the third quarter of fiscal 2016.  The curtailment gain recognized in the third quarter of fiscal 2016 is due to plan amendments related to the sale of Diamond Crystal Brands (DCB).