Staples 2012 Annual Report Download - page 150

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C-38
STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (continued)
Expected Benefit Payments and Contributions
The following table presents the expected benefit payments to pension plan participants for the next five years, and the
aggregate for the following five years (in thousands):
Pension Plans
U.S. Plans International
Plans Total
2013 $ 1,762 $ 54,525 $ 56,287
2014 1,843 55,173 57,016
2015 1,915 55,296 57,211
2016 2,021 54,970 56,991
2017 2,180 54,220 56,400
2018-2022 12,331 264,195 276,526
These payments have been estimated based on the same assumptions used to measure the plans' projected benefit obligation
at February 2, 2013 and include benefits attributable to estimated future compensation increases for the pension plans.
The 2013 expected benefit payments to plan participants not covered by the respective plan assets (that is, underfunded
plans) represent a component of other long-term obligations in the consolidated balance sheet.
The following table presents, based on current assumptions, the Company's expected contributions for the next five years
and the aggregate for the following five years (in thousands):
Pension Plans
U.S. Plans International
Plans Total
2013 $ 1,343 $ 13,124 $ 14,467
2014 1,313 13,479 14,792
2015 1,605 13,705 15,310
2016 1,761 14,063 15,824
2017 1,738 14,393 16,131
2018-2022 4,432 73,992 78,424
There are no expected benefit payments and contributions associated with the other post-retirement benefit plans.
Employees' 401(k) Savings Plan and Other Defined Contribution Plans
Staples' Employees' 401(k) Savings Plan (the "401(k) Plan") is available to all United States based employees of Staples
who meet minimum age and length of service requirements. Contributions by the Company to the 401(k) Plan are made in cash
and vest ratably over a five year period. The Supplemental Executive Retirement Plan (the "SERP Plan"), which is similar in
many respects to the 401(k) Plan, is available to certain Company executives and other highly compensated employees, whose
contributions to the 401(k) Plan are limited, and allows such individuals to supplement their contributions to the 401(k) Plan by
making pre-tax contributions to the SERP Plan. Company contributions to the SERP Plan are based on a similar matching formula
and vesting period.
The expense associated with the Company's match for the Staples 401(k) Savings Plan and for contributions related to
certain foreign defined contribution plans for 2012, 2011 and 2010 was $40.9 million, $41.2 million and $35.6 million, respectively.