Albertsons 2013 Annual Report Download - page 83
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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
2013 2012 2013 2012
Change in Benefit Obligation
Benefit obligation at beginning of year $ 2,745 $ 2,287 $ 116 $ 148
Plan Amendment — — — (52)
Service cost — — 2 2
Interest cost 123 126 5 7
Transfers — (3) — —
Actuarial loss 119 415 (9) 17
Benefits paid (94) (80) (5) (6)
Benefit obligation at end of year 2,893 2,745 109 116
Changes in Plan Assets
Fair value of plan assets at beginning of year 1,827 1,723 — —
Actual return on plan assets 205 110 — —
Employer contributions 93 77 5 6
Pension Benefits
Other Postretirement
Benefits
2013 2012 2013 2012
Plan participants’ contributions — — 4 8
Benefits paid (94) (83) (9) (14)
Fair value of plan assets at end of year 2,031 1,827 — —
Funded status at end of year $ (862) $ (918) $ (109) $ (116)
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 $2,893 and $2,739 as of
February 23, 2013 and February 25, 2012, respectively.
Amounts recognized in the Consolidated Balance Sheets consisted of the following:
Pension Benefits
Other Postretirement
Benefits
2013 2012 2013 2012
Accrued vacation, compensation and benefits $ (2) $ (2) $ (7) $ (7)
Pension and other postretirement benefit obligations (860) (916) (102) (109)
$ (862) $ (918) $ (109) $ (116)
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