Kroger 2013 Annual Report Download - page 137
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A-64
NO T E S T O C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S , CO N T I N U E D
Information with respect to change in benefit obligation, change in plan assets, the funded status of
the plans recorded in the Consolidated Balance Sheets, net amounts recognized at the end of fiscal years,
weighted average assumptions and components of net periodic benefit cost follow:
Pension Benefits
Qualified Plans Non-Qualified Plans Other Benefits
2013 2012 2013 2012 2013 2012
Change in benefit obligation:
Benefit obligation at beginning of fiscal year ....... $3,443 $3,348 $ 221 $ 217 $ 402 $ 378
Service cost............................... 40 44 3317 16
Interest cost .............................. 144 146 9915 16
Plan participants’ contributions ............... ————10 9
Actuarial (gain) loss......................... (308) 33 (20) 3(97) 6
Benefits paid .............................. (136) (131) (10) (11) (25) (23)
Other.................................... —3——(30) —
Assumption of Harris Teeter benefit obligation ... 326 —60 —2—
Benefit obligation at end of fiscal year ............ $3,509 $3,443 $ 263 $ 221 $ 294 $ 402
Change in plan assets:
Fair value of plan assets at beginning of
fiscal year ................................ $2,746 $2,523 $ — $ — $ — $ —
Actual return on plan assets .................. 139 278 ————
Employer contributions ..................... 100 71 10 11 15 14
Plan participants’ contributions ............... ————10 9
Benefits paid .............................. (136) (131) (10) (11) (25) (23)
Other.................................... —5————
Assumption of Harris Teeter plan assets ......... 286 —————
Fair value of plan assets at end of fiscal year........ $3,135 $2,746 $ — $ — $ — $ —
Funded status at end of fiscal year................ $ (374) $ (697) $(263) $(221) $(294) $(402)
Net liability recognized at end of fiscal year........ $ (374) $ (697) $(263) $(221) $(294) $(402)
As of February 1, 2014 and February 2, 2013, other current liabilities include $30 and $29, respectively,
of net liability recognized for the above benefit plans.
The pension plan assets acquired and liabilities assumed in the Harris Teeter merger did not affect the
Company’s net periodic benefit cost in 2013 due to the merger occurring close to year end.
As of February 1, 2014 and February 2, 2013, pension plan assets do not include common shares of The
Kroger Co.
Pension Benefits Other Benefits
Weighted average assumptions 2013 2012 2011 2013 2012 2011
Discount rate – Benefit obligation .............. 4.99% 4.29% 4.55% 4.68% 4.11% 4.40%
Discount rate – Net periodic benefit cost ........ 4.29% 4.55% 5.60% 4.11% 4.40% 5.40%
Expected return on plan assets ................ 8.50% 8.50% 8.50%
Rate of compensation increase –
Net periodic benefit cost ................... 2.77% 2.82% 2.88%
Rate of compensation increase –
Benefit Obligation ........................ 2.86% 2.77% 2.82%