Albertsons 2007 Annual Report Download - page 108

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SU
PERVAL
U
IN
C
. and
S
ubsidiaries
N
OTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
On September 29, 2006, the Financial Accountin
g
Standards Board issued SFAS No. 1
5
8, “Emplo
y
ers’
Accounting for Defined Benefit Pension and Other Postretirement Plans.” SFAS No. 1
5
8 requires, among othe
r
t
hi
ngs, t
h
e recogn
i
t
i
on o
f
t
h
e
f
un
d
e
d
status o
f
eac
hd
e
fi
ne
db
ene
fi
t pens
i
on p
l
an an
d
eac
h
ot
h
er postret
i
remen
t
b
enefit plan on the balance sheet. The impact of the implementation of the standard due to previousl
y
u
nrecognized prior service cost and actuarial gains/losses not recognized in current year expense is recognized in
a
ccumu
l
ate
d
ot
h
er compre
h
ens
i
ve
i
ncome/
l
oss, a component o
f
s
h
are
h
o
ld
ers’ equ
i
ty.
P
e
n
s
i
o
nB
e
n
e
fit
s
B
efo
r
e
i
mplementat
i
on
of
S
FA
S
15
8
C
hange due t
o
S
FA
S
15
8
Af
t
er
i
mplementat
i
o
n
o
f
S
FA
S
15
8
Pension intangible asset
$
7
$
(7)
$
—
Pension liability
$
364
$
73
$
43
7
Other postretirement liabilit
y
$ 118 $ 52 $ 170
Deferred tax liabilit
y
$ 644 $(51) $ 59
3
T
otal liabilities
$
16
,
322
$
74
$
16
,
396
Accumulated other comprehensive loss
$
(154)
$
(81)
$
(235)
T
otal stockholders’ equit
y
$ 5,387 $(81) $ 5,306
T
otal liabilities and stockholders’ equit
y
$21,709 $ (7) $21,70
2
SFAS No. 158 has a provision requiring a measurement date equal to the balance sheet date for companies with
f
iscal
y
ears endin
g
after December 1
5
, 2008. The Compan
y
has chosen to adopt the measurement date provisio
n
f
or the fiscal year beginning February 2
5
, 2007. The measurement date for the SUPERVALU defined benefi
t
pension plans and other postretirement benefit plans for fiscal 2007 was November 30, 200
6
. The measurement
d
ate for the Ac
q
uired O
p
erations’ defined benefit
p
ension
p
lans and other
p
ostretirement benefit
p
lans wa
s
February 22, 2007
.
T
he benefit obli
g
ation, fair value of plan assets, and funded status of the Compan
y
-sponsored qualified defined
benefit
p
ension
p
lans and other
p
ostretirement benefit
p
lans are as follows
:
De
fi
ned Bene
fi
t
P
e
n
sio
nPl
a
n
s
O
ther Postret
i
remen
t
B
e
n
efi
t
s
F
ebruary
24,
200
7
F
ebruary
2
5
,
2006
F
ebruary
24,
200
7
F
ebruary
2
5
,
2006
Chan
g
e in Benefit Obli
g
ation (1
)
B
enefit obligation at beginning of year
$
780
$
686
$
144
$
14
9
Acquired Operations benefit obli
g
ation at acquisition
J
une 2
,
200
6
1
,
13
6
—27
—
Service cost 32 21 2 2
I
nterest cost 97 41 9 8
Plan participants’ contributions — — —
6
Actuarial loss (gain) 143
6
0 (1) (9
)
B
enefits paid (47) (28) (11) (12
)
B
enefit obligation at end of year
$
2,141
$
780
$
170
$
144
F-
42