Foot Locker 2013 Annual Report Download - page 83

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Foot Locker, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
21. Retirement Plans and Other Benefits
Pension and Other Postretirement Plans
The Company has defined benefit pension plans covering certain of its North American employees, which are
funded in accordance with the provisions of the laws where the plans are in effect. In connection with the
acquisition of Runners Point Group, the Company acquired certain pension obligations. In addition to providing
pension benefits, the Company sponsors postretirement medical and life insurance plans, which are available
to most of its retired U.S. employees. These plans are contributory and are not funded. The measurement date
of the assets and liabilities is the last day of the fiscal year.
The following tables set forth the plans’ changes in benefit obligations and plan assets, funded status, and
amounts recognized in the Consolidated Balance Sheets, measured at February 1, 2014 and February 2, 2013:
Pension Benefits Postretirement Benefits
2013 2012 2013 2012
(in millions)
Change in benefit obligation
Benefit obligation at beginning of year $ 706 $ 704 $15 $15
Service cost 14 13 ——
Interest cost 25 28 1—
Plan participants’ contributions ——22
Actuarial (gain) loss (11) 15 —1
Foreign currency translation adjustments (9) ———
Runners Point Group acquisition 1———
Benefits paid (52) (54) (3) (3)
Benefit obligation at end of year $ 674 $ 706 $15 $15
Change in plan assets
Fair value of plan assets at beginning of year $ 673 $ 639
Actual return on plan assets 33 59
Employer contributions 529
Foreign currency translation adjustments (9) —
Benefits paid (52) (54)
Fair value of plan assets at end of year $ 650 $ 673
Funded status $ (24) $ (33) $ (15) $ (15)
Amounts recognized on the balance sheet:
Other assets $4 $7 $— $—
Accrued and other liabilities (3) (3) (1) (1)
Other liabilities (25) (37) (14) (14)
$ (24) $ (33) $ (15) $ (15)
Amounts recognized in accumulated other
comprehensive loss, pre-tax:
Net loss (gain) $ 399 $ 426 $ (13) $ (16)
Prior service cost (credit) 11——
$ 400 $427 $ (13) $ (16)
60