Staples 2012 Annual Report Download - page 145

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C-33
STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (continued)
The following table presents the changes in pension plan assets for each of the defined benefit pension plans during 2011
and 2012 (in thousands):
U.S. Plans International
Plans Total
Fair value of plan assets at January 29, 2011 $ 28,451 $ 1,062,819 $ 1,091,270
Actual return on plan assets 1,521 85,889 87,410
Employer's contributions 1,161 10,987 12,148
Plan participants' contributions — 1,455 1,455
Benefits paid (1,493)(55,668)(57,161)
Other — 11,031 11,031
Amortization of unrecognized losses — (1,461)(1,461)
Currency translation adjustments — (50,383)(50,383)
Fair value of plan assets at January 28, 2012 $ 29,640 $ 1,064,669 $ 1,094,309
Actual return on plan assets 3,301 92,975 96,276
Employer's contributions 1,295 14,048 15,343
Plan participants' contributions — 1,183 1,183
Benefits paid (1,632)(54,815)(56,447)
Other — 2,819 2,819
Amortization of unrecognized losses (331)(1,276)(1,607)
Currency translation adjustments 45,955 45,955
Fair value of plan assets at February 2, 2013 $ 32,273 $ 1,165,558 $ 1,197,831
The funded status for the U.S. Plans and International Pension Plans at February 2, 2013 was $8.4 million underfunded
and $42.2 million overfunded, respectively. The funded status for the U.S. Plans and International Pension Plans at January 28,
2012 was $9.0 million underfunded and $148.9 million overfunded, respectively.
Amounts recognized in the consolidated balance sheet consist of the following (in thousands):
February 2, 2013
Pension Plans Post-retirement
Benefit Plans
U.S. Plans International
Plans Total Total
Prepaid benefit cost (included in other assets) $ — $ 86,708 $ 86,708 $ —
Current liability from discontinued operations — (10,915)(10,915)—
Accrued benefit liability (included in other long-term
obligations) (8,388)(33,547)(41,935)(46,049)
Accumulated other comprehensive loss 7,990 222,175 230,165 33,895
Net amount recognized $(398) $ 264,421 $ 264,023 $ (12,154)
January 28, 2012
Pension Plans Post-retirement
Benefit Plans
U.S. Plans International
Plans Total Total
Prepaid benefit cost (included in other assets) $ — $ 183,180 $ 183,180 $ —
Accrued benefit liability (included in other long-term
obligations) (8,978)(34,301)(43,279)(37,298)
Accumulated other comprehensive loss 7,638 119,377 127,015 30,389
Net amount recognized $(1,340) $ 268,256 $ 266,916 $ (6,909)