Note 2 - Employee Benefit Plans

6 Months Ended

Aug. 01, 2015

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

NOTE 2 –

EMPLOYEE BENEFIT PLANS

Retirement Plans.

The following summarizes the net periodic benefit cost for Hancock’s defined benefit pension retirement plan and its postretirement health care benefit plan for the thirteen and twenty-six weeks ended August 1, 2015 and July 26, 2014 (in thousands):

	Retirement Plan						Postretirement Benefit Plan						Retirement Plan						Postretirement Benefit Plan
	Thirteen Weeks Ended												Twenty-six Weeks Ended
	August 1,			July 26,			August 1,			July 26,			August 1,			July 26,			August 1,			July 26,
	2015			2014			2015			2014			2015			2014			2015			2014
Service costs	$	202		$	149		$	12		$	13		$	429		$	298		$	25		$	26
Interest cost		959			1,022			28			33			1,918			2,044			56			66
Expected return on assets		(1,068	)		(1,033	)		-			-			(2,137	)		(2,066	)		-			-
Amortization of prior service costs		-			-			(168	)		(167	)		-			-			(340	)		(334	)
Recognized net actuarial (gain) loss		655			339			(30	)		(33	)		1,000			678			(62	)		(66	)
Net periodic benefit cost	$	748		$	477		$	(158	)	$	(154	)	$	1,210		$	954		$	(321	)	$	(308	)

At August 1, 2015, the fair value of the assets held by the pension plan was $63.0 million reflecting a slight decrease from January 31, 2015. Cash contributions to the pension plan of $2.1 million during the twenty-six weeks ended August 1, 2015 are included in that decrease. Service costs consist of administrative expenses paid out of the pension trust.