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BENEFIT PLANS
6 Months Ended
Aug. 11, 2012
BENEFIT PLANS  
BENEFIT PLANS

4.              BENEFIT PLANS

 

The following table provides the components of net periodic benefit costs for the Company-sponsored defined benefit pension plans and other post-retirement benefit plans for the second quarters of 2012 and 2011.

 

 

 

Second Quarter Ended

 

 

 

Pension Benefits

 

Other Benefits

 

 

 

August 11,
2012

 

August 13,
2011

 

August 11,
2012

 

August 13,
2011

 

Components of net periodic benefit cost: 

 

 

 

 

 

 

 

 

 

Service cost 

 

$

9

 

$

12

 

$

4

 

$

3

 

Interest cost 

 

35

 

41

 

4

 

5

 

Expected return on plan assets 

 

(48

)

(48

)

 

 

Amortization of: 

 

 

 

 

 

 

 

 

 

Prior service cost 

 

 

 

(1

)

(2

)

Actuarial loss 

 

21

 

16

 

 

(1

)

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost 

 

$

17

 

$

21

 

$

7

 

$

5

 

 

The following table provides the components of net periodic benefit costs for the Company-sponsored defined benefit pension plans and other post-retirement benefit plans for the first two quarters of 2012 and 2011.

 

 

 

Two Quarters Ended

 

 

 

Pension Benefits

 

Other Benefits

 

 

 

August 11,
2012

 

August 13,
2011

 

August 11,
2012

 

August 13,
2011

 

Components of net periodic benefit cost: 

 

 

 

 

 

 

 

 

 

Service cost 

 

$

25

 

$

26

 

$

9

 

$

7

 

Interest cost 

 

84

 

93

 

9

 

10

 

Expected return on plan assets 

 

(113

)

(111

)

 

 

Amortization of: 

 

 

 

 

 

 

 

 

 

Prior service cost 

 

 

 

(2

)

(3

)

Actuarial loss 

 

52

 

36

 

 

(1

)

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost 

 

$

48

 

$

44

 

$

16

 

$

13

 

 

The Company contributed $7 to Company-sponsored defined benefit pension plans in the first two quarters of 2012 and did not make any contributions to these plans in the first two quarters of 2011.  For 2012, the Company expects to contribute approximately $75 in total to these plans.

 

The Company contributed $77 and $70 to employee 401(k) retirement savings accounts in the first two quarters of 2012 and 2011, respectively.

 

The Company also contributes to various multi-employer pension plans based on obligations arising from most of its collective bargaining agreements. These plans provide retirement benefits to participants based on their service to contributing employers. The Company recognizes expense in connection with these plans as contributions are funded.