Kroger 2015 Annual Report Download - page 137
Download and view the complete annual report
Please find page 137 of the 2015 Kroger annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148
-
149
-
150
-
151
-
152
-
153
 |
 |
A-63
15. COMPANY- SPONSORED BENEFIT PLANS
The Company administers non-contributory defined benefit retirement plans for some non-union
employees and union-represented employees as determined by the terms and conditions of collective
bargaining agreements. These include several qualified pension plans (the “Qualified Plans”) and
non-qualified pension plans (the “Non-Qualified Plans”). The Non-Qualified Plans pay benefits to any
employee that earns in excess of the maximum allowed for the Qualified Plans by Section 415 of the
Internal Revenue Code. The Company only funds obligations under the Qualified Plans. Funding for the
Company-sponsored pension plans is based on a review of the specific requirements and on evaluation
of the assets and liabilities of each plan.
In addition to providing pension benefits, the Company provides certain health care benefits for
retired employees. The majority of the Company’s employees may become eligible for these benefits
if they reach normal retirement age while employed by the Company. Funding of retiree health care
benefits occurs as claims or premiums are paid.
The Company recognizes the funded status of its retirement plans on the Consolidated Balance
Sheets. Actuarial gains or losses, prior service costs or credits and transition obligations that have not
yet been recognized as part of net periodic benefit cost are required to be recorded as a component of
AOCI. All plans are measured as of the Company’s fiscal year end.
Amounts recognized in AOCI as of January 30, 2016 and January 31, 2015 consists of the following
(pre-tax):
Pension Benefits Other Benefits Total
2015 2014 2015 2014 2015 2014
Net actuarial loss (gain) $1,213 $1,398 $ (121) $ (89) $1,092 $1,309
Prior service cost (credit) 1 1 (66) (75) (65) (74)
Total $1,214 $1,399 $ (187) $ (164) $1,027 $1,235
Amounts in AOCI expected to be recognized as components of net periodic pension or
postretirement benefit costs in the next fiscal year are as follows (pre-tax):
Pension Benefits Other Benefits Total
2016 2016 2016
Net actuarial loss (gain) $62 $ (9) $53
Prior service credit — (8) (8)
Total $62 $(17) $45
Other changes recognized in other comprehensive income in 2015, 2014 and 2013 were as follows
(pre-tax):
Pension Benefits Other Benefits Total
2015 2014 2013 2015 2014 2013 2015 2014 2013
Incurred net actuarial loss (gain) $ (83) $590 $ (243) $(39) $ 14 $ (97) $(122) $604 $ (340)
Amortization of prior service credit — — — 11 7 4 11 7 4
Amortization of net actuarial gain (loss) (102) (50) (102) 7 8 — (95) (42) (102)
Other — — — (2) (47) (30) (2) (47) (30)
Total recognized in other
comprehensive income (loss) (185) 540 (345) (23) (18) (123) (208) 522 (468)
Total recognized in net periodic
benefit cost and other
comprehensive income $ (82) $595 $ (271) $(22) $ (9) $ (95) $(104) $586 $ (366)