Albertsons 2014 Annual Report Download - page 97
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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
2014 2013 2014 2013
Change in Benefit Obligation
Benefit obligation at beginning of year $ 2,893 $ 2,745 $ 109 $ 116
Plan Amendment — — (11) —
Service cost — — 2 2
Interest cost 121 123 4 5
Actuarial loss (gain) (141) 119 (12) (9)
Benefits paid (147) (94) (6) (5)
Other — — (5) —
Benefit obligation at end of year 2,726 2,893 81 109
Changes in Plan Assets
Fair value of plan assets at beginning of year 2,031 1,827 — —
Actual return on plan assets 259 205 — —
Employer contributions 118 93 6 5
Plan participants’ contributions — — 3 4
Benefits paid (147) (94) (9) (9)
Fair value of plan assets at end of year 2,261 2,031 — —
Funded status at end of year $ (465) $ (862) $ (81) $ (109)
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 $2,726 and $2,893 as of
February 22, 2014 and February 23, 2013, respectively.
Amounts recognized in the Consolidated Balance Sheets consisted of the following:
Pension Benefits
Other Postretirement
Benefits
2014 2013 2014 2013
Accrued vacation, compensation and benefits $ (3) $ (2) $ (6) $ (7)
Pension and other postretirement benefit obligations (462) (860) (75) (102)
$ (465) $ (862) $ (81) $ (109)
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