Albertsons 2012 Annual Report Download - page 71
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Effective August 23, 2011, the Company amended the SUPERVALU Retiree Benefit Plan to modify benefits
provided by the plan. The result of this amendment was a reduction in the other postretirement benefit obligation
of $39 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:
Pension Benefits
Other Postretirement
Benefits
2012 2011 2012 2011
Change in Benefit Obligation
Benefit obligation at beginning of year $ 2,515 $ 2,320 $ 148 $ 131
Plan Amendment — — (52) —
Service cost 9 8 2 2
Interest cost 138 137 7 8
Transfers (3) (1) — —
Actuarial loss 461 146 17 13
Benefits paid (85) (95) (6) (6)
Benefit obligation at end of year 3,035 2,515 116 148
Changes in Plan Assets
Fair value of plan assets at beginning of year 1,896 1,557 — —
Actual return on plan assets 121 272 — —
Employer contributions 87 163 6 6
Plan participants’ contributions — — 8 8
Benefits paid (88) (96) (14) (14)
Fair value of plan assets at end of year 2,016 1,896 — —
Funded status at end of year $ (1,019) $ (619) $ (116) $ (148)
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 $3,028 and $2,500 as of
February 25, 2012 and February 26, 2011, respectively.
Amounts recognized in the Consolidated Balance Sheets consisted of the following:
Pension Benefits
Other Postretirement
Benefits
2012 2011 2012 2011
Accrued vacation, compensation and benefits $ (2) $ (3) $ (7) $ (8)
Pension and other postretirement benefit obligations (1,017) (616) (109) (140)
$ (1,019) $ (619) $ (116) $ (148)
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