XML 70 R36.htm IDEA: XBRL DOCUMENT v2.4.0.8
Employee Benefit Plans (Tables)
12 Months Ended
Mar. 01, 2014
Compensation and Retirement Disclosure [Abstract]  
Schedule of Defined Benefit Plans Disclosures
The following tables present reconciliations of the benefit obligation of the defined-benefit pension plans and the funded status of the defined-benefit pension plans. Both the Tubelite plan and the SERP use a fiscal year-end measurement date.
(In thousands)
2014
 
2013
Change in benefit obligation
 
 
 
Benefit obligation beginning of period
$
14,869

 
$
14,774

Interest cost
538

 
570

Actuarial loss
(113
)
 
539

Benefits paid
(1,020
)
 
(1,014
)
Benefit obligation at measurement date
$
14,274

 
$
14,869

 
 
 
 
Change in plan assets
 
 
 
Fair value of plan assets beginning of period
$
4,709

 
$
4,572

Actual return on plan assets
(66
)
 
242

Company contributions
807

 
909

Benefits paid
(1,020
)
 
(1,014
)
Fair value of plan assets at measurement date
$
4,430

 
$
4,709

 
 
 
 
Funded status - net amount recognized
$
(9,844
)
 
$
(10,160
)
Schedule of Amounts Recognized in Balance Sheet
Amounts recognized in the consolidated balance sheets consist of:
(In thousands)
2014
 
2013
Current liabilities
$
(638
)
 
$
(640
)
Other non-current liabilities
(9,206
)
 
(9,520
)
Total
$
(9,844
)
 
$
(10,160
)
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized as Components of Net Periodic Benefit Cost
Amounts included in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost consist of:
(In thousands)
2014
 
2013
Net actuarial loss
$
4,569

 
$
4,598

Accumulated other comprehensive loss
$
4,569

 
$
4,598

Schedule of Amounts Recognized in Comprehensive Earnings
The amount recognized in comprehensive earnings for fiscal 2014 and 2013, net of tax expense, is as follows:
(In thousands)
2014
 
2013
Net actuarial (gain) loss
$
(19
)
 
$
168

Total
$
(19
)
 
$
168

Schedule of Net Benefit Costs
Components of the defined-benefit pension plans' net periodic benefit cost are as follows:
(In thousands)
 
2014
 
2013
 
2012
Interest cost
 
$
538

 
$
570

 
$
654

Expected return on assets
 
(183
)
 
(177
)
 
(214
)
Amortization of unrecognized net loss
 
163

 
211

 
120

Net periodic benefit cost
 
$
518

 
$
604

 
$
560

Schedule of Assumptions Used
Weighted-average assumptions used at the measurement date to determine the defined-benefit plans' benefit obligation for the following fiscal years are as follows:
(Percentages)
2014
 
2013
 
2012
Discount rate
4.00
%
 
3.75
%
 
4.00
%

Weighted-average assumptions used at the measurement date to determine the defined-benefit plans' net periodic benefit cost for the following fiscal years are as follows:
(Percentages)
2014
 
2013
 
2012
Discount rate
3.75
%
 
4.00
%
 
5.25
%
Expected return on assets
4.50
%
 
4.50
%
 
5.50
%
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans as follows:
(In thousands)
 
Fiscal 2015
$
1,018

Fiscal 2016
1,003

Fiscal 2017
997

Fiscal 2018
970

Fiscal 2019
981

Fiscal 2020-2024
4,625