Macy's 2012 Annual Report Download - page 34
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29
The assumed weighted average age-graded rate of increase in future compensation levels was 4.5% at February 2, 2013
and January 28, 2012 for the Pension Plan, and 4.9% at February 2, 2013 and January 28, 2012 for the SERP. The Company
develops its rate of compensation increase assumption on an age-graded basis based on recent experience and reflects an
estimate of future compensation levels taking into account general increase levels, seniority, promotions and other factors.
Pension liabilities and future pension expense both increase or decrease as the weighted average rate of increase of future
compensation levels is increased or decreased, respectively. Increasing or decreasing the assumed weighted average rate of
increase of future compensation levels by 0.25% would increase or decrease the projected benefit obligation at February 2,
2013 by approximately $2 million and change estimated 2013 pension expense by approximately $1 million.
New Pronouncements
The Company does not anticipate that the adoption of recent accounting pronouncements will have an impact on the
Company's consolidated financial position, results of operations or cash flows.