XML 85 R64.htm IDEA: XBRL DOCUMENT v3.7.0.1
Note 8 - Employee Post-employment Benefits - Change in Benefit Obligation and Plan Assets and Reconciliation of Funded Status (Details) - USD ($)
$ in Thousands
12 Months Ended
Jun. 06, 2017
May 31, 2016
Jun. 02, 2015
Beginning fair value of plan assets $ 6,209    
Ending fair value of plan assets 6,126 $ 6,209  
Pension Plan [Member]      
Beginning projected benefit obligation 44,429 43,843  
Service cost 26 312 $ 301
Interest cost 1,711 1,999 1,773
Plan participant contributions  
Actuarial loss/(gain) (183) 1,411  
Benefits paid (3,403) (2,888)  
Curtailment gain (248)  
Benefit obligation at end of year 42,580 44,429 43,843
Beginning fair value of plan assets 6,209 6,786  
Actual return on plan assets 554 (318)  
Employer contributions 2,766 2,629  
Plan participant contributions  
Benefits paid (3,403) (2,888)  
Ending fair value of plan assets 6,126 6,209 6,786
Funded status at end of year [1] (36,454) (38,220)  
Accrued liabilities – payroll and related costs (2,953) (2,527)  
Other deferred liabilities (33,501) (35,693)  
Net amount recognized at year-end (36,454) (38,220)  
Net actuarial loss (14,912) (16,821)  
Total amount recognized (14,912) (16,821)  
Postretirement Medical and Life Benefits [Member]      
Beginning projected benefit obligation 1,100 1,404  
Service cost 1 4 4
Interest cost 36 47 46
Plan participant contributions 84 73  
Actuarial loss/(gain) (147) (373)  
Benefits paid (85) (55)  
Curtailment gain  
Benefit obligation at end of year 989 1,100 1,404
Beginning fair value of plan assets  
Actual return on plan assets  
Employer contributions 1 (18)  
Plan participant contributions 84 73  
Benefits paid (85) (55)  
Ending fair value of plan assets
Funded status at end of year (989) (1,100)  
Accrued liabilities – payroll and related costs (123) (113)  
Other deferred liabilities (866) (987)  
Net amount recognized at year-end (989) (1,100)  
Net actuarial loss (273) (491)  
Total amount recognized $ (273) $ (491)  
[1] The funded status reflected above includes the liabilities attributable to all of the Pension Plans but only the assets of the Retirement Plan as the other plans are not considered funded for Employee Retirement Income Security Act purposes. To provide a source for the payment of benefits under the Executive Supplemental Pension Plan and the Management Retirement Plan, we own life insurance contracts on some of the participants. The cash value of these policies (Level 2), which are included within the Other Assets caption in our Consolidated Balance Sheets, was $25.4 million and $27.9 million at June 6, 2017 and May 31, 2016, respectively. In addition, we reclassified as Restricted cash in our Consolidated Balance Sheets as as of June 6, 2017 and May 31, 2016 $1.4 million and $0.4 million, respectively, of cash held in trust that is restricted for benefit payments under these plans. We maintain a rabbi trust to hold the policies and death benefits as they are received.