Foot Locker 2010 Annual Report Download - page 74

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The following table provides a summary of recognized assets that are measured at fair value on a
non-recurring basis:
(in millions) Level 1 Level 2 Level 3 Loss
Recognized
Year ended January 29, 2011:
Intangible assets ......................... $— $— $15 $10
Year ended January 30, 2010:
Long-lived assets held and used ............... $— $— $71 $36
See Note 3, Impairment and Other Charges, for further discussion and additional disclosures.
20. Retirement Plans and Other Benefits
Pension and Other Postretirement Plans
The Company has defined benefit pension plans covering certain of its North American employees, which are
funded in accordance with the provisions of the laws where the plans are in effect. In addition to providing
pension benefits, the Company sponsors postretirement medical and life insurance plans, which are available to
most of its retired U.S. employees. These plans are contributory and are not funded. The measurement date of the
assets and liabilities is the last day of the fiscal year. The following tables set forth the plans’ changes in benefit
obligations and plan assets, funded status, and amounts recognized in the Consolidated Balance Sheets,
measured at January 29, 2011 and January 30, 2010:
Pension
Benefits Postretirement
Benefits
2010 2009 2010 2009
(in millions)
Change in benefit obligation
Benefit obligation at beginning of year......... $654 $604 $13 $12
Service cost........................... 13 11 — —
Interest cost .......................... 33 36 — 1
Plan participants’ contributions ............. — — 3 3
Actuarial loss.......................... 24 49 — —
Foreign currency translation adjustments ....... 6 12 — —
Plan amendment ....................... — — — 1
Benefits paid .......................... (61) (58) (4) (4)
Benefit obligation at end of year ............. $669 $654 $12 $13
Change in plan assets
Fair value of plan assets at beginning of year ..... $550 $418
Actual return on plan assets ................ 70 76
Employer contributions ................... 36 103
Foreign currency translation adjustments ....... 6 11
Benefits paid .......................... (61) (58)
Fair value of plan assets at end of year ......... $601 $550
Funded status ......................... $(68) $(104) $(12) $(13)
Amounts recognized on the Balance Sheet:
Other assets........................... $ 2 $ — $— $—
Accrued and other liabilities................ (3) (3) (1) (2)
Other liabilities ........................ (67) (101) (11) (11)
$(68) $(104) $(12) $(13)
Amounts recognized in accumulated other
comprehensive loss:
Net loss (gain) ......................... $438 $ 457 $(28) $(34)
Prior service cost (credit).................. 1 1 (2) (2)
$439 $ 458 $(30) $(36)
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