Rite Aid 2012 Annual Report Download - page 109

Download and view the complete annual report

Please find page 109 of the 2012 Rite Aid 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.

Page out of 126

  • 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

RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended March 3, 2012, February 26, 2011 and February 27, 2010
(In thousands, except per share amounts)
15. Multiemployer Plans that Provide Pension Benefits (Continued)
The Company was listed in these plans Forms 5500 as providing more than 5 percent of the total
contributions for the following plans and plan years:
Year Contributions to Plan Exceeded More Than 5 Percent of
Pension Fund Total Contributions (as of the Plan’s Year-End)
Northern California Pharmacists, Clerks and Drug
Employers Pension Plan ................. 12/31/2010 and 12/31/2009
Southern California United Food and Commercial
Workers Unions and Drug Employers Pension
Fund ............................... 12/31/2009
United Food and Commercial Workers Union-
Employer Pension Fund ................. 9/30/2010
At the date the Company’s financial statements were issued, certain Forms 5500 were not
available.
The Company withdrew from the NW OH Pension Fund effective December 31, 2011 and incurred
an approximate $1,300 withdrawal liability.
16. Commitments, Contingencies and Guarantees
Legal Proceedings
While the Company cannot predict with certainty the timing or outcome of the legal matters
described below, the Company does not believe that any of these matters will have a material effect on
its business or financial condition. The Company cannot give assurance, however, that an unfavorable
outcome in one or more of these matters will not have a material effect on its results of operations for
the period in which they are resolved.
The Company is currently a defendant in several putative collective or class action lawsuits filed in
federal or state courts in several states, including Pennsylvania, New Jersey, New York, Maryland,
Massachusetts, Maine, New Hampshire, Washington and Oregon, purportedly on behalf of, in some
cases (i) current and former assistant store managers and co-managers or (ii) current and former store
managers and assistant store managers, respectively, working in the Company’s stores at various
locations. The lawsuits allege violations of the Fair Labor Standards Act and of certain state wage and
hour statutes. The lawsuits seek various combinations of unpaid compensation (including overtime
compensation), liquidated damages, exemplary damages, pre-and post-judgment interest as well as
attorneys’ fees and costs. In one of the cases, Craig et al v. Rite Aid Corporation et al, pending in the
United States District Court for the Middle District of Pennsylvania, brought on behalf of current and
former assistant store managers, the Court, on December 9, 2009, conditionally certified a nationwide
collective group of individuals who worked for the Company as assistant store managers since
December 9, 2006. Notice of the Craig action was sent to the purported members of the collective
group (approximately 6,700 current and former assistant store managers) and approximately 1,100
109