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BENEFIT PLANS
6 Months Ended
Aug. 13, 2016
BENEFIT PLANS  
BENEFIT PLANS

 

4.    BENEFIT PLANS

 

The following table provides the components of net periodic benefit cost for the Company-sponsored defined benefit pension plans and other post-retirement benefit plans for the second quarters of 2016 and 2015.

 

 

 

Second Quarter Ended

 

 

 

Pension Benefits

 

Other Benefits

 

 

 

August 13,
2016

 

August 15,

2015

 

August 13,
2016

 

August 15,
2015

 

Components of net periodic benefit cost: 

 

 

 

 

 

 

 

 

 

Service cost 

 

$

15

 

$

16

 

$

2

 

$

3

 

Interest cost 

 

43

 

39

 

3

 

2

 

Expected return on plan assets 

 

(55

)

(53

)

 

 

Amortization of: 

 

 

 

 

 

 

 

 

 

Prior service cost 

 

 

 

(2

)

(3

)

Actuarial loss (gain)

 

15

 

24

 

(2

)

(1

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost 

 

$

18

 

$

26

 

$

1

 

$

1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table provides the components of net periodic benefit cost for the Company-sponsored defined benefit pension plans and other post-retirement benefit plans for the first two quarters of 2016 and 2015.

 

 

 

Two Quarters Ended

 

 

 

Pension Benefits

 

Other Benefits

 

 

 

August 13,
2016

 

August 15,
2015

 

August 13,

2016

 

August 15,
2015

 

Components of net periodic benefit cost: 

 

 

 

 

 

 

 

 

 

Service cost 

 

$

36

 

$

35

 

$

5

 

$

6

 

Interest cost 

 

101

 

90

 

6

 

6

 

Expected return on plan assets 

 

(128

)

(124

)

 

 

Amortization of: 

 

 

 

 

 

 

 

 

 

Prior service cost 

 

 

 

(4

)

(6

)

Actuarial loss (gain) 

 

34

 

55

 

(5

)

(3

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost 

 

$

43

 

$

56

 

$

2

 

$

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company is not required and does not expect to make any contributions to its Company-sponsored defined benefit pension plans in 2016.

 

The Company contributed $117 and $107 to employee 401(k) retirement savings accounts in the first two quarters of 2016 and 2015, 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.

 

During the second quarter of 2016, the Company incurred a charge of $111, $71 net of tax, due to commitments arising from the restructuring of certain multi-employer pension plan obligations during the second quarter of 2016.