Albertsons 2016 Annual Report Download - page 98
Download and view the complete annual report
Please find page 98 of the 2016 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 -
105 -
106 -
107 -
108 -
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
 |
 |
96
Benefit
Plans Interest
Rate Swap Total
February 23, 2013 accumulated other comprehensive loss $ (612) $ — $ (612)
Other comprehensive income before reclassifications 202 — 202
Amortization of amounts included in net periodic benefit cost(1) 55 — 55
Net Other comprehensive income 257 — 257
Divestiture of NAI pension plan 48 — 48
February 22, 2014 accumulated other comprehensive loss (307) — (307)
Other comprehensive loss before reclassifications (188) — (188)
Pension settlement charge(2) 39 — 39
Amortization of amounts included in net periodic benefit cost(1) 33 — 33
Net Other comprehensive loss (116) — (116)
February 28, 2015 accumulated other comprehensive loss (423) — (423)
Other comprehensive loss before reclassifications (37)(4)(41)
Amortization of amounts included in net periodic benefit cost(1) 42 — 42
Net Other comprehensive income (loss) 5 (4) 1
February 27, 2016 accumulated other comprehensive loss $ (418) $ (4) $ (422)
(1) Amortization of amounts included in net periodic benefit cost includes amortization of prior service benefit and amortization of net
actuarial loss as reflected in Note 11—Benefit Plans.
(2) Refer to Note 11—Benefit Plans for additional information on the Company's fiscal 2015 pension settlement charge.
Upon completion of the sale of NAI in the first quarter of fiscal 2014, the Company disposed of approximately $48 of
Accumulated other comprehensive loss, which was a component of Stockholders’ deficit in the Consolidated Balance Sheet as
of February 23, 2013, due to NAI’s assumption of a defined benefit pension plan established and operated under NAI.
Accumulated other comprehensive loss related to the Company's interest rate swap was insignificant as of February 28, 2015.
Items reclassified out of pension and postretirement benefit plan accumulated other comprehensive loss had the following
impact on the Consolidated Statements of Operations:
2016 2015 2014
Affected Line Item on
Consolidated Statements
of Operations
Pension and postretirement benefit plan
obligations:
Amortization of amounts included in net
periodic benefit expense(1) $ 59 $ 43 $ 82 Selling and administrative
expenses
Amortization of amounts included in net
periodic benefit expense(1) 8 11 11 Cost of sales
Pension settlement charge — 64 — Selling and administrative
expenses
Total reclassifications 67 118 93
Income tax benefit (25) (46)(38) Income tax provision
Total reclassifications, net of tax $ 42 $ 72 $ 55
(1) Amortization of amounts included in net periodic benefit cost include amortization of prior service benefit and amortization of net
actuarial loss as reflected in Note 11—Benefit Plans.
No amounts were reclassified out of Accumulated other comprehensive loss related to the interest rate swap designated as a
cash flow hedge. As of February 27, 2016, the Company expects to reclassify $3 out of Accumulated other comprehensive loss
into Interest expense, net during the following twelve month period.