Pension and Other Post-Retirement Benefit Plans

3 Months Ended

Apr. 28, 2012

Pension and Other Post Retirement Benefit Plans Disclosure [Abstract]

Pension and Other Post-Retirement Benefit Plans

Pension and Other Post-Retirement Benefit Plans

In connection with the acquisition of Corporate Express, Staples assumed the obligations under the defined benefit pension plans Corporate Express sponsored.  The pension plans cover certain employees in Europe and the United States.   The benefits due to U.S. plan participants are frozen.  A number of the defined benefit plans outside the U.S. are funded with plan assets that have been segregated in trusts.  Contributions are made to these trusts, as necessary, to meet legal and other requirements.

In August 2010, the Company began sponsoring an unfunded post-retirement life insurance benefit plan, which provides benefits to eligible U.S. executives based on earnings, years of service and age at termination of employment.

The total net cost recognized for the first quarter of2012 and 2011 associated with the pension and other post-retirement benefit plans is based upon preliminary estimates pending the final actuarial determination of such costs. The following table presents a summary of the total net periodic cost recorded in the condensed consolidated statement of comprehensive income for the first quarter of2012 and 2011 related to the plans (in thousands):

	13 Weeks Ended April 28, 2012
	Pension Plans									Other Post-Retirement Benefit Plan Total
	U.S. Plans			International Plans			Total
Service cost	$	—		$	2,648		$	2,648		$	460
Interest cost	443			9,668			10,111			385
Expected return on plan assets	(438		)	(12,968		)	(13,406		)	—
Amortization of unrecognized losses and prior service costs	83			1,345			1,428			429
Total cost	$	88		$	693		$	781		$	1,274

	13 Weeks Ended April 30, 2011
	Pension Plans									Other Post-Retirement Benefit Plan Total
	U.S. Plans			International Plans			Total
Service cost	$	—		$	2,403		$	2,403		$	454
Interest cost	466			10,179			10,645			380
Expected return on plan assets	(422		)	(13,923		)	(14,345		)	—
Amortization of unrecognized losses and prior service costs	—			352			352			441
Total cost (benefit)	$	44		$	(989	)	$	(945	)	$	1,275

Cash contributions made to the pension plans during the first quarter of2012 and 2011 are as follows (in thousands):

	13 Weeks Ended
	April 28, 2012		April 30, 2011
U.S. Pension Plans	$	254	$	194
International Pension Plans	7,561		1,905
Total	$	7,815	$	2,099

The Company expects to make additional cash contributions of $1.1 million and $6.0 million to the U.S. Pension Plans and International Pension Plans, respectively, during the remainder of fiscal year 2012.  No cash contributions are expected to be made during 2012 to the Company’s other post-retirement benefit plans.