Staples 2014 Annual Report Download - page 161
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APPENDIX C
STAPLES C-29
STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (continued)
The following tables present a summary of the total net cost recorded in the consolidated statement of income for the pension and
post-retirement life insurance benefit plans for 2014, 2013 and 2012 (in thousands):
2014
Pension Plans
Post-retirement
Benefit Plan
U.S. Plans International Plans Total Total
Service cost $— $10,273 $10,273 $1,300
Interest cost 1,783 28,885 30,668 2,068
Expected return on plan assets (1,960) (50,954) (52,914) —
Amortization of unrecognized losses and prior service costs 64 9,859 9,923 1,787
Settlement loss 970 — 970 —
Total cost (benefit) $857 $(1,937) $(1,080) $5,155
2013
Pension Plans
Post-retirement
Benefit Plan
U.S. Plans International Plans Total Total
Service cost $— $16,142 $16,142 $1,999
Interest cost 1,687 33,479 35,166 2,007
Expected return on plan assets (1,924) (61,571) (63,495) —
Amortization of unrecognized losses and prior service costs 378 11,668 12,046 2,432
Total cost (benefit) $141 $(282) $(141) $6,438
2012
Pension Plans
Post-retirement
Benefit Plan
U.S. Plans International Plans Total Total
Service cost $— $11,579 $11,579 $2,282
Interest cost 1,772 38,156 39,928 1,811
Expected return on plan assets (1,750) (55,418) (57,168) —
Amortization of unrecognized losses and prior service costs 331 1,276 1,607 2,135
Total cost (benefit) $353 $(4,407) $(4,054) $6,228
The total net cost disclosed above for 2014, 2013 and 2012 associated with the pension plans reflects the total for both continuing
and discontinued operations. The following table presents the net periodic cost recorded in the consolidated statement of
comprehensive income for 2013 and 2012 related to discontinued operations pension plans only (in thousands):
Discontinued Operations
Pension Plans
35 Weeks Ended
October 5, 2013
53 Weeks Ended
February 2, 2013
Service cost $4,299 $2,487
Interest cost 2,141 1,940
Expected return on plan assets (2,279) (1,836)
Amortization of unrecognized losses and prior service costs 354 95
Total cost $4,515 $2,686