Staples 2012 Annual Report Download - page 146
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C-34
STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (continued)
Amounts recognized in accumulated other comprehensive loss that have not yet been recognized as components of net
periodic pension and post-retirement costs at February 2, 2013 and January 28, 2012 are comprised of actuarial losses and prior
service costs.
The amount of accumulated other comprehensive loss expected to be recognized as components of net periodic pension
and post-retirement benefit costs during 2013 is approximately $11.4 million and $2.4 million, respectively.
There were no significant amendments to any of the Company's defined benefit pension plans or the post-retirement life
insurance benefit plan in 2012 or 2011 that would have had a material effect on the consolidated statement of income in these
periods.
Assumptions Used to Determine Plan Financial Information
The valuation of benefit obligations and net periodic pension and post-retirement benefit cost uses participant-specific
information such as salary, age and years of service, as well as certain assumptions, the most significant of which include estimates
of discount rates, expected return on plan assets, rate of compensation increases, interest rates and mortality rates.
The following table presents the assumptions used to measure the net periodic cost and the year-end benefit obligations
for the defined benefit pension and post-retirement benefit plans for 2012, 2011 and 2010:
2012
Pension Plans
Post-retirement
Benefit Plan
U.S.
Plans International
Plans
Weighted-average assumptions used to measure net periodic
pension cost:
Discount rate 4.7% 4.4% 4.9%
Expected return on plan assets 6.0% 5.4% —%
Rate of compensation increase —% 2.1% 3.0%
Weighted-average assumptions used to measure benefit
obligations at year-end:
Discount rate 4.3% 3.0% 4.4%
Rate of compensation increase —% 2.0% 2.5%
Rate of pension increase —% 1.1% —%
2011
Pension Plans
Post-retirement
Benefit Plan
U.S.
Plans International
Plans
Weighted-average assumptions used to measure net periodic
pension cost:
Discount rate 5.7% 4.8% 4.9%
Expected return on plan assets 7.0% 6.4% —%
Rate of compensation increase —% 2.2% 3.0%
Weighted-average assumptions used to measure benefit
obligations at year-end:
Discount rate 4.7% 4.3% 4.9%
Rate of compensation increase —% 2.1% 3.0%
Rate of pension increase —% 1.1% —%