Albertsons 2009 Annual Report Download - page 69
Download and view the complete annual report
Please find page 69 of the 2009 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.-
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
 |
 |
For the defined benefit pension plans, the benefit obligation is the projected benefit obligation. For other
postretirement benefit plans, the benefit obligation is the accumulated postretirement benefit obligation. The
Company’s accumulated benefit obligation for the defined benefit pension plans was $1,892 and $1,901 as of
February 28, 2009 and February 23, 2008, respectively.
Amounts recognized in the Consolidated Balance Sheets consisted of the following:
2009 2008 2009 2008
Pension Benefits Other Postretirement Benefits
Accrued vacation, compensation and benefits $ (2) $ (1) $ (7) $ (11)
Other liabilities (912) (239) (110) (142)
$ (914) $ (240) $ (117) $ (153)
Benefit calculations for the legacy SUPERVALU sponsored defined benefit pension plans for primarily non-
union eligible participants are generally based on years of eligible service and the participants’ highest
compensation during five consecutive years of employment. Benefit calculations for Acquired Operation
retirees are based upon age at retirement, years of eligible service and average compensation.
Net periodic benefit expense (income) for defined benefit pension plans and other postretirement benefit plans
consisted of the following:
2009 2008 2007 2009 2008 2007
Pension Benefits Other Postretirement Benefits
Net Periodic Benefit Cost
Service cost $ 7 $ 27 $ 33 $ 1 $ 2 $ 2
Interest cost 129 124 99 10 9 9
Expected return on plan assets (142) (135) (105) — — —
Amortization of prior service cost (benefit) — — 2 (1) (2) (2)
Amortization of net actuarial loss 1 13 27 3 5 5
Curtailment — 6 — — — —
Net periodic benefit expense (income) (5) 35 $ 56 13 14 $ 14
Other Changes in Plan Assets and Benefit
Obligations Recognized in Other
Comprehensive Income (Loss)
Prior service benefit — (6) (38) —
Amortization of prior service benefit — — 1 2
Net actuarial loss (gain) 707 (139) 3 (17)
Amortization of net actuarial loss (1) (13) (3) (5)
Total recognized in other comprehensive
income 706 (158) (37) (20)
Total recognized in net periodic benefit
expense and other comprehensive income $ 701 $ (123) $ (24) $ (6)
The estimated net actuarial loss that will be amortized from accumulated other comprehensive losses into net
periodic benefit cost for the defined benefit pension plans during fiscal 2010 is $10. The estimated net amount
of prior service benefit and net actuarial loss for the postretirement benefit plans that will be amortized from
accumulated other comprehensive losses into net periodic benefit cost during fiscal 2010 is $5.
65