Staples 2012 Annual Report Download - page 143

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C-31
STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (continued)
Unless otherwise noted, the information contained in this note includes both continuing and discontinued operations. The
following table presents a summary of the total projected benefit obligation for the pension plans, the fair value of plan assets and
the associated funded status recorded in the consolidated balance sheet at February 2, 2013 and January 28, 2012 (in thousands):
February 2, 2013 January 28, 2012
Projected
Benefit
Obligations
Fair Value
of Plan
Assets Funded
Status
Projected
Benefit
Obligations
Fair Value
of Plan
Assets Funded
Status
Overfunded Plans:
International Plans $ (968,196) $ 1,054,904 $ 86,708 $ (779,248) $ 962,428 $ 183,180
Total Overfunded Plans $ (968,196) $ 1,054,904 $ 86,708 $ (779,248) $ 962,428 $ 183,180
Underfunded Plans:
U.S. Plans $ (40,661) $ 32,273 $ (8,388)$ (38,618) $ 29,640 $ (8,978)
International Plans (155,116) 110,654 (44,462)(136,542) 102,241 (34,301)
Total Underfunded Plans $ (195,777) $ 142,927 $ (52,850)$ (175,160) $ 131,881 $ (43,279)
The following tables present a summary of the total net cost recorded in the consolidated statement of income for the
pension and post-retirement life insurance benefit plans for 2012, 2011 and 2010 (in thousands):
2012
Pension Plans Post-retirement
Benefit Plan
U.S. Plans International Plans Total Total
Service cost $ — $ 11,579 $ 11,579 $ 2,282
Interest cost 1,772 38,156 39,928 1,811
Expected return on plan assets (1,750) (55,418)(57,168)—
Amortization of unrecognized losses and
prior service costs 331 1,276 1,607 2,135
Total cost (benefit) $ 353 $ (4,407)$ (4,054) $ 6,228
2011
Pension Plans Post-retirement
Benefit Plan
U.S. Plans International Plans Total Total
Service cost $ — $ 9,987 $ 9,987 $ 1,765
Interest cost 1,864 42,934 44,798 1,479
Expected return on plan assets (1,686) (58,903)(60,589)—
Amortization of unrecognized losses and
prior service costs — 1,461 1,461 1,716
Total cost (benefit) $ 178 $ (4,521)$ (4,343) $ 4,960
2010
Pension Plans Post-retirement
Benefit Plan
U.S. Plans International Plans Total Total
Service cost $ — $ 10,717 $ 10,717 $ 895
Interest cost 1,841 37,718 39,559 695
Expected return on plan assets (1,735) (61,361)(63,096)—
Amortization of unrecognized losses and
prior service costs 2 3,991 3,993 —
Total cost (benefit) $ 108 $ (8,935)$ (8,827) $ 1,590