Staples 2015 Annual Report Download - page 144
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APPENDIX C
C-27 STAPLES Form 10-K
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 January 30, 2016 and
January 31, 2015 (in millions):
January 30, 2016 January 31, 2015
Projected
Benefit
Obligations
Fair Value
of Plan
Assets Funded
Status
Projected
Benefit
Obligations
Fair Value
of Plan
Assets Funded
Status
Overfunded Plans:
International Plans $(924) $969 $45 $— $— $—
Underfunded Plans:
U.S. Plans $(37) $27 $(10) $(41) $31 $(10)
International Plans (65) 37 (28) (1,169) 1,106 (63)
Total Underfunded Plans $(102) $64 $(38) $(1,210) $1,137 $(73)
The following tables present a summary of the total net periodic cost recorded in the Consolidated Statement of Comprehensive
Income for 2015, 2014 and 2013 related to the plans (in millions):
2015
Pension Plans Post-retirement
Benefit Plan
U.S. Plans International Plans Total Total
Service cost $— $19 $19 $2
Interest cost 2 15 17 3
Expected return on plan assets (2) (50) (52) —
Amortization of unrecognized losses and prior service costs 1 13 14 3
Total cost (benefit) $1 $(3) $(2) $8
2014
Pension Plans Post-retirement
Benefit Plan
U.S. Plans International Plans Total Total
Service cost $— $10 $10 $1
Interest cost 2 29 31 2
Expected return on plan assets (2) (51) (53) —
Amortization of unrecognized losses and prior service costs — 10 10 2
Settlement loss 1 — 1 —
Total cost (benefit) $1 $(2) $(1) $5
2013
Pension Plans Post-retirement
Benefit Plan
U.S. Plans International Plans Total Total
Service cost $— $16 $16 $2
Interest cost 2 33 35 2
Expected return on plan assets (2) (61) (63) —
Amortization of unrecognized losses and prior service costs — 12 12 2
Total cost $— $— $— $6