Albertsons 2009 Annual Report Download - page 68

Options and restricted stock of 22 shares were outstanding during fiscal 2009 but were excluded from the
computation of diluted net loss per share as the effect of their inclusion would be antidilutive when applied to
a net loss. Options of 6 and 11 shares were outstanding during fiscal 2008 and 2007, respectively, but were
excluded from the computation of diluted net earnings per share because they were antidilutive.
NOTE 13—BENEFIT PLANS
Employee Benefit Plans
Substantially all employees of the Company and its subsidiaries are covered by various contributory and non-
contributory pension, profit sharing or 401(k) plans. Union employees participate in multi-employer retirement
plans under collective bargaining agreements, unless the collective bargaining agreement provides for
participation in plans sponsored by the Company. In addition to sponsoring both defined benefit and defined
contribution pension plans, the Company provides healthcare and life insurance benefits for eligible retired
employees under postretirement benefit plans. The Company also provides certain health and welfare benefits
including short-term and long-term disability benefits to inactive disabled employees prior to retirement. The
terms of the postretirement benefit plans vary based on employment history, age and date of retirement. For
most retirees, the Company provides a fixed dollar contribution and retirees pay contributions to fund the
remaining cost.
Effective December 31, 2007, the Company authorized amendments to the SUPERVALU Retirement Plan and
certain supplemental executive retirement benefit plans whereby service crediting will end in these plans and
no employees will become eligible to participate in these plans after December 31, 2007. Pay increases will
continue to be reflected in the amount of benefit earned in these plans until December 31, 2012. The
amendments to the plans were accounted for as plan curtailments in the first quarter of fiscal 2008.
Effective January 1, 2009, the Company authorized an amendment to the SUPERVALU Retiree Benefit Plan
to provide for certain insured Medicare benefits. The result of this amendment was a reduction in the other
postretirement benefit obligation of $37 with a corresponding decrease to other comprehensive loss, net of tax.
The benefit obligation, fair value of plan assets and funded status of the defined benefit pension plans and
other postretirement benefit plans consisted of the following:
2009 2008 2009 2008
Pension Benefits Other Postretirement Benefits
Change in Benefit Obligation
Benefit obligation at beginning of year $ 1,940 $ 2,171 $ 153 $ 170
Plan amendment — — (37) —
Change in measurement date — (9) — (2)
Service cost 7 27 1 2
Interest cost 129 124 10 9
Curtailment — (38) — —
Transfers 2 (3) — —
Actuarial (gain) loss (85) (263) 3 (16)
Benefits paid (71) (69) (13) (10)
Benefit obligation at end of year 1,922 1,940 117 153
Changes in Plan Assets
Fair value of plan assets at beginning of year 1,700 1,735 — —
Change in measurement date — 24 — —
Actual return on plan assets (649) (28) — —
Employer contributions 28 38 13 15
Plan participants’ contributions — — 11 10
Benefits paid (71) (69) (24) (25)
Fair value of plan assets at end of year 1,008 1,700 — —
Funded status at end of year $ (914) $ (240) $ (117) $ (153)
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