XML 65 R46.htm IDEA: XBRL DOCUMENT v3.6.0.2
EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Oct. 30, 2016
Compensation and Retirement Disclosure [Abstract]  
Schedule of assumptions used
Assumptions—Weighted average actuarial assumptions used to determine benefit obligations were as follows:
 
October 30, 2016
 
November 1, 2015
 
Defined
Benefit Plans
 
OPEB Plans
 
Defined
Benefit Plans
 
OPEB Plans
Discount rate
3.64
%
 
3.25
%
 
4.17
%
 
3.75
%
Weighted average actuarial assumptions used to determine net periodic benefit cost (income) were as follows:
 
October 30, 2016
 
November 1, 2015
 
Defined
Benefit Plans
 
OPEB Plans
 
Defined
Benefit Plans
 
OPEB Plans
Discount rate
4.18
%
 
3.75
%
 
4.08
%
 
3.50
%
Expected return on plan assets
6.16
%
 
n/a

 
6.75
%
 
n/a

Health care cost trend rate-initial
n/a

 
9.00
%
 
n/a

 
9.00
%
Health care cost trend rate-ultimate
n/a

 
5.00
%
 
n/a

 
5.00
%
Schedule of change in projected benefit obligation
The changes in the projected benefit obligation, plan assets and funded status, and the amounts recognized on our consolidated balance sheets were as follows (in thousands):
 
October 30, 2016
 
November 1, 2015
Change in projected benefit obligation
Defined
Benefit Plans
 
OPEB Plans
 
Total
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
Accumulated benefit obligation
$
58,551

 
$
8,347

 
$
66,898

 
$
58,403

 
$
7,590

 
$
65,993

Projected benefit obligation – beginning of fiscal year
$
58,403

 
$
7,590

 
$
65,993

 
$
63,138

 
$
8,153

 
$
71,291

Interest cost
2,354

 
261

 
2,615

 
2,382

 
218

 
2,600

Service cost
137

 
34

 
171

 
115

 
22

 
137

Benefit payments
(3,708
)
 
(450
)
 
(4,158
)
 
(4,020
)
 
(663
)
 
(4,683
)
Actuarial (gains) losses
1,365

 
912

 
2,277

 
(3,212
)
 
(140
)
 
(3,352
)
Projected benefit obligation – end of fiscal year
$
58,551

 
$
8,347

 
$
66,898

 
$
58,403

 
$
7,590

 
$
65,993


 
October 30, 2016
 
November 1, 2015
Change in plan assets
Defined
Benefit Plans
 
OPEB Plans
 
Total
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
Fair value of assets – beginning of fiscal year
$
47,295

 
$

 
$
47,295

 
$
50,815

 
$

 
$
50,815

Actual return on plan assets
883

 

 
883

 
(999
)
 

 
(999
)
Company contributions
1,690

 
450

 
2,140

 
1,501

 
663

 
2,164

Benefit payments
(3,708
)
 
(450
)
 
(4,158
)
 
(4,022
)
 
(663
)
 
(4,685
)
Fair value of assets – end of fiscal year
$
46,160

 
$

 
$
46,160

 
$
47,295

 
$

 
$
47,295


Schedule of change in plan assets
 
October 30, 2016
 
November 1, 2015
Change in plan assets
Defined
Benefit Plans
 
OPEB Plans
 
Total
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
Fair value of assets – beginning of fiscal year
$
47,295

 
$

 
$
47,295

 
$
50,815

 
$

 
$
50,815

Actual return on plan assets
883

 

 
883

 
(999
)
 

 
(999
)
Company contributions
1,690

 
450

 
2,140

 
1,501

 
663

 
2,164

Benefit payments
(3,708
)
 
(450
)
 
(4,158
)
 
(4,022
)
 
(663
)
 
(4,685
)
Fair value of assets – end of fiscal year
$
46,160

 
$

 
$
46,160

 
$
47,295

 
$

 
$
47,295


 
October 30, 2016
 
November 1, 2015
Funded status
Defined
Benefit Plans
 
OPEB Plans
 
Total
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
Fair value of assets
$
46,160

 
$

 
$
46,160


$
47,295

 
$

 
$
47,295

Benefit obligation
58,551

 
8,347

 
66,898


58,403

 
7,590

 
65,993

Funded status
$
(12,391
)
 
$
(8,347
)
 
$
(20,738
)

$
(11,108
)
 
$
(7,590
)
 
$
(18,698
)

Schedule of funded status
 
October 30, 2016
 
November 1, 2015
Funded status
Defined
Benefit Plans
 
OPEB Plans
 
Total
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
Fair value of assets
$
46,160

 
$

 
$
46,160


$
47,295

 
$

 
$
47,295

Benefit obligation
58,551

 
8,347

 
66,898


58,403

 
7,590

 
65,993

Funded status
$
(12,391
)
 
$
(8,347
)
 
$
(20,738
)

$
(11,108
)
 
$
(7,590
)
 
$
(18,698
)
Schedule of weighted average assets allocation by assets category
As of October 30, 2016 and November 1, 2015, the weighted average asset allocations by asset category for the Defined Benefit Plans were as follows (in thousands):
Investment type
October 30,
2016
 
November 1,
2015
Equity securities
45
%
 
48
%
Debt securities
37
%
 
34
%
Master limited partnerships
4
%
 
4
%
Cash and cash equivalents
5
%
 
5
%
Real estate
5
%
 
5
%
Other
4
%
 
4
%
Total
100
%
 
100
%
Schedule of fair value of separate accounts by assets category
The fair values of the assets of the Defined Benefit Plans at October 30, 2016 and November 1, 2015, by asset category and by levels of fair value, as further defined in Note 14 — Fair Value of Financial Instruments and Fair Value Measurements were as follows (in thousands):
 
October 30, 2016
 
November 1, 2015
Asset category
Level 1
 
Level 2
 
Total
 
Level 1
 
Level 2
 
Total
Cash
$
2,186

 
$

 
$
2,186

 
$
2,146

 
$

 
$
2,146

Mutual funds:
 
 
 
 
 
 
 
 
 
 
 
Growth funds
5,705

 

 
5,705

 
6,039

 

 
6,039

Real estate funds
2,245

 

 
2,245

 
2,590

 

 
2,590

Commodity linked funds
1,780

 

 
1,780

 
1,791

 

 
1,791

Equity income funds
3,700

 

 
3,700

 
3,704

 

 
3,704

Index funds
2,156

 
54

 
2,210

 
1,914

 
43

 
1,957

International equity funds
225

 
1,271

 
1,496

 
258

 
1,662

 
1,920

Fixed income funds
1,577

 
2,095

 
3,672

 
1,381

 
1,129

 
2,510

Master limited partnerships
2,033

 

 
2,033

 
2,023

 

 
2,023

Government securities

 
5,955

 
5,955

 

 
7,392

 
7,392

Corporate bonds

 
7,315

 
7,315

 

 
6,082

 
6,082

Common/collective trusts

 
7,863

 
7,863

 

 
9,141

 
9,141

Total
$
21,607

 
$
24,553

 
$
46,160

 
$
21,846

 
$
25,449

 
$
47,295


Schedule of net periodic benefit costs (income)
Net periodic benefit cost (income)—The components of the net periodic benefit cost (income) were as follows (in thousands):
 
October 30,
2016
 
November 1,
2015
 
November 2,
2014
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
 
RCC Pension Plan
Interest cost
$
2,354

 
$
261

 
$
2,615

 
$
2,382

 
$
218

 
$
2,600

 
$
1,912

Service cost
137

 
34

 
171

 
115

 
22

 
137

 

Expected return on assets
(2,979
)
 

 
(2,979
)
 
(3,045
)
 

 
(3,045
)
 
(2,369
)
Amortization of prior service credit
(9
)
 

 
(9
)
 
(9
)
 

 
(9
)
 
(9
)
Amortization of net actuarial loss
1,170

 

 
1,170

 
1,443

 

 
1,443

 
507

Net periodic benefit cost (income)
$
673

 
$
295

 
$
968

 
$
886

 
$
240

 
$
1,126

 
$
41

Schedule of the amounts in AOCI net not yet recognized
The amounts in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit income are as follows (in thousands):
 
October 30, 2016
 
November 1, 2015
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
Unrecognized net actuarial loss (gain)
$
15,985

 
$
771

 
$
16,756

 
$
13,712

 
$
(140
)
 
$
13,572

Unrecognized prior service credit
(33
)
 

 
(33
)
 
(42
)
 

 
(42
)
Total
$
15,952

 
$
771

 
$
16,723

 
$
13,670

 
$
(140
)
 
$
13,530

Schedule of change in plan assets and benefit obligations recognized in OCI
The changes in plan assets and benefit obligation recognized in other comprehensive income are as follows (in thousands):
 
October 30,
2016
 
November 1,
2015
 
November 2,
2014
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
 
RCC Pension Plan
Net actuarial gain (loss)
$
(3,443
)

$
(911
)

$
(4,354
)
 
$
(834
)
 
$
140

 
$
(694
)
 
$
(6,886
)
Amortization of net actuarial loss
1,170




1,170

 
1,443

 

 
1,443

 
507

Amortization of prior service credit
(9
)



(9
)
 
(9
)
 

 
(9
)
 
(9
)
Total recognized in other comprehensive income (loss)
$
(2,282
)

$
(911
)

$
(3,193
)
 
$
600

 
$
140

 
$
740

 
$
(6,388
)
Schedule of the estimated amortization for the next fiscal year
The estimated amortization for the next fiscal year for amounts reclassified from accumulated other comprehensive income into the consolidated income statement is as follows (in thousands):
 
October 30, 2016
 
Defined
Benefit Plans
 
OPEB Plans
 
Total
Amortization of prior service credit
$
(9
)
 
$

 
$
(9
)
Amortization of net actuarial loss
1,374

 

 
1,374

Total estimated amortization
$
1,365

 
$

 
$
1,365

Schedule of expected benefit payments
We expect the following benefit payments to be made (in thousands):
Fiscal years ending
Defined
Benefit Plans
 
OPEB Plans
 
Total
2017
$
4,092

 
$
779

 
$
4,871

2018
4,256

 
771

 
5,027

2019
4,293

 
791

 
5,084

2020
4,144

 
730

 
4,874

2021
3,878

 
648

 
4,526

2022 - 2026
18,587

 
2,210

 
20,797