Albertsons 2002 Annual Report Download - page 34
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Please find page 34 of the 2002 Albertsons 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.The following tables set forth the changes in benefit obligations and plan assets, a reconciliation of the accrued benefit costs and total benefit costs for
the fiscal years for the Company’s defined benefit pension plans and other post-retirement plans:
Pension Benefits Other Benefits
February 23, February 24, February 23, February 24,
(In thousands) 2002 2001 2002 2001
Changes in Benefit Obligations
Benefit obligations at beginning of year $412,517 $379,154 $ 86,246 $ 72,061
Service cost 17,487 16,217 1,902 2,000
Interest cost 31,163 28,859 6,031 5,407
Plan amendments —319 (8,294) —
Actuarial loss 25,544 11,174 22,396 11,736
Benefits paid (19,941) (23,206) (4,594) (4,958)
Benefit obligations at end of year $466,770 $412,517 $ 103,687 $ 86,246
Changes in Plan Assets
Fair value of plan assets at beginning of year $409,685 $392,374 $ —$ —
Actual return on plan assets (11,845) 27,897 ——
Company contributions 18,135 12,620 3,424 2,650
Plan participants’ contributions ——4,594 4,958
Benefits paid (19,941) (23,206) (8,018) (7,608)
Fair value of plan assets at end of year $396,034 $409,685 $ —$ —
Reconciliation of Prepaid (Accrued) Cost
Funded status $ (70,736) $ (2,832) $(103,687) $(86,246)
Accrued contribution 3,000 3,264 ——
Unrecognized net loss 110,236 32,145 43,302 21,621
Unrecognized prior service cost (148) (306) (7,938) (1,164)
Prepaid (accrued) cost $ 42,352 $ 32,271 $ (68,323) $(65,789)
Pension Benefits Other Benefits
(In thousands) 2002 2001 2000 2002 2001 2000
Net Benefit Costs for the Fiscal Year
Service cost $ 17,487 $ 16,217 $ 15,991 $1,902 $2,000 $2,040
Interest cost 31,163 28,859 23,657 6,031 5,407 4,915
Expected return on plan assets (41,386) (38,231) (31,928) ———
Amortization of:
Unrecognized net loss ——192 715 167 509
Unrecognized prior service cost (159) (159) (187) (736) (271) (262)
Unrecognized net obligation —(306) 63 ———
Net benefit costs for the fiscal year $ 7,105 $ 6,380 $ 7,788 $7,912 $7,303 $7,202
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