Staples 2013 Annual Report Download - page 162
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STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (continued)
C-31
The following table presents the changes in benefit obligations during 2012 and 2013 (in thousands):
Pension Plans
Post-retirement
Benefit Plans
U.S. Plans
International
Plans Total Total
Projected benefit obligation at
January 28, 2012 $ 38,618 $ 915,790 $ 954,408 $ 37,298
Service cost — 11,579 11,579 2,282
Interest cost 1,772 38,156 39,928 1,811
Plan participants' contributions — 1,183 1,183 —
Actuarial losses 1,903 165,236 167,139 5,220
Benefits paid (1,632) (54,815)(56,447)(562)
Currency translation adjustments — 46,183 46,183 —
Projected benefit obligation at
February 2, 2013 $ 40,661 $ 1,123,312 $ 1,163,973 $ 46,049
Service cost — 16,142 16,142 1,999
Interest cost 1,687 33,479 35,166 2,007
Plan participants' contributions — 1,041 1,041 —
Actuarial (gains) losses (2,458) 675 (1,783)(8,544)
Benefits paid (1,707) (55,765)(57,472)(2,783)
Divestiture — (35,069)(35,069) —
Currency translation adjustments — (7,714)(7,714) —
Projected benefit obligation at
February 1, 2014 $ 38,183 $ 1,076,101 $ 1,114,284 $ 38,728
The accumulated benefit obligation for the U.S. Plans and International Plans at February 1, 2014 was $38.2 million and
$1.06 billion, respectively. The accumulated benefit obligation for the U.S. Plans and International Plans at February 2, 2013 was
$40.7 million and $1.10 billion, respectively. The accumulated benefit obligation for the post-retirement benefit obligation was
$38.7 million and $46.0 million at February 1, 2014 and February 2, 2013, respectively.