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BENEFIT PLANS (Tables)
12 Months Ended
Feb. 28, 2015
Compensation and Retirement Disclosure [Abstract]  
Benefit Obligation, Fair Value of Plan Assets and Funded Status of Defined Benefit Pension Plans and Other Postretirement Benefit Plans
The benefit obligation, fair value of plan assets and funded status of the defined benefit pension plans and other postretirement benefit plans consisted of the following:
 
Pension Benefits
 
Other  Postretirement Benefits
 
2015
 
2014
 
2015
 
2014
Change in Benefit Obligation
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
2,726

 
$
2,893

 
$
81

 
$
109

Plan amendment

 

 
(5
)
 
(11
)
Service cost

 

 
1

 
2

Interest cost
121

 
121

 
4

 
4

Actuarial loss (gain)
371

 
(141
)
 
5

 
(12
)
Settlements paid
(272
)
 

 

 

Benefits paid
(97
)
 
(147
)
 
(4
)
 
(6
)
Other

 

 

 
(5
)
Benefit obligation at end of year
2,849

 
2,726

 
82

 
81

Changes in Plan Assets
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
2,261

 
2,031

 

 

Actual return on plan assets
260

 
259

 

 

Employer contributions
165

 
118

 
4

 
6

Plan participants’ contributions

 

 
3

 
3

Settlements paid
(272
)
 

 

 

Benefits paid
(97
)
 
(147
)
 
(7
)
 
(9
)
Other

 

 
4

 

Fair value of plan assets at end of year
2,317

 
2,261

 
4

 

Unfunded status at end of year
$
(532
)
 
$
(465
)
 
$
(78
)
 
$
(81
)
Amounts Recognized in Consolidated Balance Sheets
Amounts recognized in the Consolidated Balance Sheets consist of the following:
 
Pension Benefits
 
Other Postretirement Benefits
 
2015
 
2014
 
2015
 
2014
Accrued vacation, compensation and benefits
$
(2
)
 
$
(3
)
 
$
(6
)
 
$
(6
)
Pension and other postretirement benefit obligations
(530
)
 
(462
)
 
(72
)
 
(75
)
Total
$
(532
)
 
$
(465
)
 
$
(78
)
 
$
(81
)
Amounts recognized in the Consolidated Balance Sheets consisted of the following:
 
 
Post-Employment Benefits
 
 
2015
 
2014
Accrued vacation, compensation and benefits
 
$
8

 
$
9

Other long-term liabilities
 
10

 
15

Total
 
$
18

 
$
24

Amounts Recognized in Accumulated Other Comprehensive Losses for Defined Benefit Pension Plans and Other Postretirement Benefit Plans
Amounts recognized in Accumulated other comprehensive loss for the defined benefit pension and other postretirement benefit plans consist of the following:
 
Pension Benefits
 
Other  Postretirement Benefits
 
2015
 
2014
 
2015
 
2014
Prior service benefit
$

 
$

 
$
45

 
$
55

Net actuarial loss
(696
)
 
(567
)
 
(28
)
 
(25
)
Total recognized in Accumulated other comprehensive loss
$
(696
)
 
$
(567
)
 
$
17

 
$
30

Total recognized in Accumulated other comprehensive loss, net of tax
$
(432
)
 
$
(324
)
 
$
9

 
$
17

Net Periodic Benefit Cost (Income) and Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) for Defined Benefit Pension and Other Postretirement Benefit Plans
Net periodic benefit cost (income) and other changes in plan assets and benefit obligations recognized in Other comprehensive (loss) income for defined benefit pension and other postretirement benefit plans consist of the following:
 
Pension Benefits
 
Other Postretirement Benefits
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Net Periodic Benefit Cost
 
 
 
 
 
 
 
 
 
 
 
Service cost
$

 
$

 
$

 
$
1

 
$
2

 
$
2

Interest cost
121

 
121

 
123

 
4

 
4

 
5

Expected return on plan assets
(149
)
 
(141
)
 
(133
)
 

 

 

Amortization of prior service benefit

 

 

 
(16
)
 
(13
)
 
(12
)
Amortization of net actuarial loss
68

 
101

 
111

 
3

 
5

 
6

Settlement
64

 

 

 

 

 

Net periodic benefit cost (income)
104

 
81

 
101

 
(8
)
 
(2
)
 
1

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Loss) Income
 
 
 
 
 
 
 
 
 
 
 
Prior service benefit

 

 

 
(5
)
 
(11
)
 

Amortization of prior service benefit

 

 

 
16

 
12

 
13

Net actuarial loss (gain)
195

 
(259
)
 
46

 
6

 
(16
)
 
(7
)
Amortization of net actuarial loss
(66
)
 
(101
)
 
(110
)
 
(3
)
 
(5
)
 
(6
)
Total expense (benefit) recognized in Other comprehensive (loss) income
129

 
(360
)
 
(64
)
 
14

 
(20
)
 

Total expense (benefit) recognized in net periodic benefit cost (income) and Other comprehensive (loss) income
$
233

 
$
(279
)
 
$
37

 
$
6

 
$
(22
)
 
$
1

Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost
Weighted average assumptions used to determine benefit obligations and net periodic benefit cost consisted of the following:
 
2015
 
2014
 
2013
Benefit obligation assumptions:
 
 
 
 
 
Discount rate(1)
3.80
%
 
4.65
%
 
4.25
%
Rate of compensation increase
%
 
%
 
2.00
%
Net periodic benefit cost assumptions:(2)
 
 
 
 
 
Discount rate(1)
4.65 – 4.10%

 
4.25
%
 
4.55
%
Rate of compensation increase
%
 
2.00
%
 
2.00
%
Expected return on plan assets(3)
7.00 – 6.50%

 
7.00
%
 
7.25
%
(1)
The Company reviews and selects the discount rate to be used in connection with measuring its pension and other postretirement benefit obligations annually. In determining the discount rate, the Company uses the yield on corporate bonds (rated AA or better) that coincides with the cash flows of the plans’ estimated benefit payouts. The model uses a yield curve approach to discount each cash flow of the liability stream at an interest rate specifically applicable to the timing of each respective cash flow. The model totals the present values of all cash flows and calculates the equivalent weighted average discount rate by imputing the singular interest rate that equates the total present value with the stream of future cash flows. This resulting weighted average discount rate is then used in evaluating the final discount rate to be used by the Company.
(2)
Net periodic benefit cost is measured using weighted average assumptions as of the beginning of each year.
(3)
Expected long-term return on plan assets is estimated by utilizing forward-looking, long-term return, risk and correlation assumptions developed and updated annually by the Company. These assumptions are weighted by the actual or target allocation to each underlying asset class represented in the pension plan asset portfolio. The Company also assesses the expected long-term return on plan assets assumption by comparison to long-term historical performance on an asset class to ensure the assumption is reasonable. Long-term trends are also evaluated relative to market factors such as inflation, interest rates, and fiscal and monetary policies in order to assess the capital market assumptions.
Fair Value of Assets of Company's Benefit Plans Held in Master Trust
The fair value of assets of the Company’s defined benefit pension plans held in a master trust as of February 28, 2015, by asset category, consisted of the following:
 
Level 1
 
Level 2
 
Level 3
 
Total
Common stock
$
489

 
$

 
$

 
$
489

Common collective trusts—fixed income

 
259

 

 
259

Common collective trusts—equity

 
336

 

 
336

Government securities
95

 
130

 

 
225

Mutual funds
53

 
286

 

 
339

Corporate bonds

 
292

 

 
292

Real estate partnerships

 

 
162

 
162

Private equity

 

 
144

 
144

Mortgage-backed securities

 
17

 

 
17

Other
48

 
6

 

 
54

Total plan assets at fair value
$
685

 
$
1,326

 
$
306

 
$
2,317

The fair value of assets of the Company’s defined benefit pension plans held in a master trust as of February 22, 2014, by asset category, consisted of the following:
 
Level 1
 
Level 2
 
Level 3
 
Total
Common stock
$
579

 
$

 
$

 
$
579

Common collective trusts—fixed income

 
253

 

 
253

Common collective trusts—equity

 
344

 

 
344

Government securities
92

 
89

 

 
181

Mutual funds
52

 
243

 

 
295

Corporate bonds

 
290

 

 
290

Real estate partnerships

 

 
149

 
149

Private equity

 

 
125

 
125

Mortgage-backed securities

 
37

 

 
37

Other

 
8

 

 
8

Total plan assets at fair value
$
723

 
$
1,264

 
$
274

 
$
2,261

The asset allocation targets and the actual allocation of pension plan assets are as follows:
Asset Category
Target
 
2015
 
2014
Domestic equity
24.4
%
 
24.8
%
 
30.2
%
International equity
11.0
%
 
11.3
%
 
14.1
%
Private equity
6.2
%
 
6.2
%
 
5.5
%
Fixed income
48.7
%
 
48.1
%
 
41.3
%
Real estate
9.7
%
 
9.6
%
 
8.9
%
Total
100.0
%
 
100.0
%
 
100.0
%
Summary of Changes in Fair Value for Level 3 Investments
The following is a summary of changes in the fair value of Level 3 investments for 2015 and 2014:
 
Real Estate
Partnerships
 
Private Equity
Ending balance, February 23, 2013
$
136

 
$
110

Purchases
22

 
34

Sales
(26
)
 
(24
)
Unrealized gains
10

 
5

Realized gains and losses
7

 

Ending balance, February 22, 2014
149

 
125

Purchases
10

 
36

Sales
(7
)
 
(21
)
Unrealized gains
10

 
4

Realized gains and losses

 

Ending balance, February 28, 2015
$
162

 
$
144

Estimated Future Benefit Payments to be Paid from Company's Defined Benefit Pension Plans and Other Postretirement Benefit Plans
The estimated future benefit payments to be made from the Company’s defined benefit pension and other postretirement benefit plans, which reflect expected future service, are as follows:
Fiscal Year
Pension Benefits
 
Other Postretirement
Benefits
2016
$
139

 
$
6

2017
129

 
5

2018
137

 
5

2019
142

 
5

2020
153

 
6

Years 2021-2025
843

 
28

Schedule of Pension Funds Contributions
The following table contains information about the Company’s multiemployer plans:
 
EIN—Pension
Plan Number
 
Plan
Month/Day
End Date
 
Pension Protection Act Zone Status
 
FIP/RP Status
Pending/ Implemented
 
Contributions
 
Surcharges
Imposed(1)
 
Amortization
Provisions
Pension Fund
2015
 
2014
 
2015
 
2014
 
2013
 
Minneapolis Food Distributing Industry Pension Plan
416047047-001
 
12/31
 
Green
 
Green
 
Implemented
 
$
10

 
$
9

 
$
9

 
No
 
Yes
Central States, Southeast and Southwest Areas Pension Fund
366044243-001
 
12/31
 
Red
 
Red
 
Implemented
 
8

 
8

 
9

 
No
 
No
Minneapolis Retail Meat Cutters and Food Handlers Pension Fund
410905139-001
 
2/28
 
Yellow
 
Yellow
 
Implemented
 
7

 
8

 
8

 
No
 
No
UFCW Unions and Participating Employers Pension Plan
526117495-002
 
12/31
 
Red
 
Red
 
Implemented
 
4

 
4

 
3

 
No
 
No
Western Conference of Teamsters Pension Plan
916145047-001
 
12/31
 
Green
 
Green
 
No
 
4

 
3

 
2

 
No
 
Yes
UFCW Union Local 655 Food Employers Joint Pension Plan
436058365-001
 
12/31
 
Green
 
Green
 
No
 
2

 
2

 
2

 
Yes
 
Yes
UFCW Unions and Employers Pension Plan
396069053-001
 
10/31
 
Red
 
Red
 
Implemented
 
1

 
2

 
2

 
Yes
 
No
All Other Multiemployer Pension Plans(2)
 
 
 
 
 
 
 
 
 
 
3

 
3

 
3

 
 
 
 
Total
 
 
 
 
 
 
 
 
 
 
$
39

 
$
39

 
$
38

 
 
 
 
(1)
PPA surcharges are 5 percent or 10 percent of eligible contributions and may not apply to all collective bargaining agreements or total contributions to each plan.
(2)
All Other Multiemployer Pension Plans includes 12 plans, none of which are individually significant when considering the Company's contributions to the plan, severity of the underfunded status or other factors.
Schedule of Collective Bargaining Agreements Dates and Contributions to Each Plan
The following table describes the expiration of the Company’s collective bargaining agreements associated with the significant multiemployer plans in which the Company participates:
 
 
 
Most Significant Collective Bargaining Agreement
 
 
Pension Fund
Range of Collective Bargaining Agreement Expiration Dates
 
Total Collective Bargaining Agreements
 
Expiration Date
 
% of Associates under Collective Bargaining Agreement (1)
 
Over 5% Contribution 2014
Minneapolis Food Distributing Industry Pension Plan
6/01/2013 – 05/31/2015
 
1

 
5/31/2015
 
100.0
%
 
Yes
Central States, Southeast and Southwest Areas Pension Fund
6/01/2011 – 8/31/2017
 
10

 
5/31/2016
 
28.7
%
 
No
Minneapolis Retail Meat Cutters and Food Handlers Pension Fund
3/2/2014 – 3/5/2016
 
1

 
3/5/2016
 
100.0
%
 
Yes
UFCW Unions and Participating Employers Pension Plan
7/13/2014 – 7/8/2017
 
2

 
7/8/2017
 
68.9
%
 
Yes
Western Conference of Teamsters Pension Plan
4/17/2011 – 7/15/2017
 
8

 
7/15/2017
 
50.2
%
 
No
UFCW Union Local 655 Food Employers Joint Pension Plan
5/13/2013 – 5/8/2016
 
1

 
5/8/2016
 
100.0
%
 
Yes
UFCW Unions and Employers Pension Plan
4/6/2014 – 4/2/2016
 
1

 
4/2/2016
 
90.0
%
 
Yes
(1)
Company participating employees in the most significant collective bargaining agreement as a percent of all Company employees participating in the respective fund.