Employee Benefit Plans

9 Months Ended

Dec. 01, 2012

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Pension Plans

The Company sponsors an unfunded Officers’ Supplemental Executive Retirement Plan for the benefit of certain executives and a defined-benefit pension plan, the Tubelite, Inc. Hourly Employees’ Pension Plan. Components of net periodic benefit cost for the plans for the three and nine-month periods ended December 1, 2012 and November 26, 2011, were as follows:

	Three Months Ended						Nine Months Ended
(In thousands)	December 1, 2012			November 26, 2011			December 1, 2012			November 26, 2011
Interest cost	$	142		$	164		$	426		$	492
Expected return on assets	(44		)	(54		)	(132		)	(162		)
Amortization of unrecognized net loss	53			30			159			90
Net periodic benefit cost	$	151		$	140		$	453		$	420

Deferred Compensation Plan

The Company maintains a deferred compensation plan that allows participants to defer compensation and save for retirement and other short-term needs. The deferred compensation liability was $2.8 million at December 1, 2012 and is included in other long-term liabilities in the consolidated balance sheet. The Company has investments in corporate-owned life insurance policies (COLI) of $3.0 million and mutual funds of $0.2 million with the intention of utilizing them as a long-term funding source for the deferred compensation plan. The COLI assets are recorded at their net cash surrender values and are included in other non-current assets in the consolidated balance sheet. The mutual fund investments are recorded at estimated fair value, based on quoted market prices, and are included in other non-current assets in the consolidated balance sheet.