SWY » Topics » NOTE G-PENSION PLAN

This excerpt taken from the SWY 10-Q filed Apr 27, 2007.

NOTE G—PENSION PLAN

The following table provides the components of net pension expense for retirement plans for the first 12 weeks of 2007 and 2006 (in millions):

 

    

12 Weeks Ended

March 24, 2007

   

12 Weeks Ended

March 25, 2006

 

Estimated return on assets

   $ (38.7 )   $ (37.8 )

Service cost

     21.1       23.0  

Interest cost

     27.4       25.1  

Amortization of prior service cost

     5.3       5.3  

Amortization of unrecognized losses

     1.2       1.4  
                

Net pension expense

   $ 16.3     $ 17.0  
                

The Company made approximately $12.3 million of contributions to its defined benefit pension plan trusts, including $0.7 million for the Retirement Restoration Plan, in the first quarter of 2007. For the remainder of 2007, Safeway currently anticipates contributing an additional $21.9 million to these trusts.

This excerpt taken from the SWY 10-Q filed Oct 13, 2006.

NOTE G–PENSION PLAN

The following table provides the components of net pension expense for retirement plans (in millions):

 

    

12 Weeks
Ended

Sept. 9,

2006

   

12 Weeks
Ended

Sept. 10,
2005

   

36 Weeks
Ended

Sept. 9,

2006

   

36 Weeks
Ended

Sept. 10,
2005

 

Estimated return on assets

   $ (37.0 )   $ (35.7 )   $ (112.8 )   $ (106.9 )

Service cost

     23.4       25.3       70.1       75.7  

Interest cost

     25.8       25.9       76.9       77.7  

Amortization of prior service cost

     5.3       3.9       16.0       11.6  

Amortization of unrecognized losses

     1.7       7.4       4.9       22.2  
                                

Net pension expense

   $ 19.2     $ 26.8     $ 55.1     $ 80.3  
                                

Safeway made approximately $22.6 million of contributions to its defined benefit pension plan trusts, including the Retirement Restoration Plan, in the first 36 weeks of 2006. For the remainder of 2006, Safeway currently anticipates contributing approximately $11 million to these trusts.

This excerpt taken from the SWY 10-Q filed Jul 21, 2006.

NOTE G–PENSION PLAN

The following table provides the components of net pension expense for retirement plans (in millions):

 

    

12 Weeks
Ended

June 17,
2006

   

12 Weeks
Ended

June 18,
2005

   

24 Weeks
Ended

June 17,
2006

   

24 Weeks
Ended

June 18,
2005

 

Estimated return on assets

   $ (37.9 )   $ (35.6 )   $ (75.8 )   $ (71.2 )

Service cost

     23.7       25.2       46.7       50.4  

Interest cost

     25.9       25.8       51.1       51.8  

Amortization of prior service cost

     5.3       3.9       10.6       7.7  

Amortization of unrecognized losses

     1.9       7.4       3.3       14.8  
                                

Net pension expense

   $ 18.9     $ 26.7     $ 35.9     $ 53.5  
                                

Safeway made approximately $17.2 million of contributions to its defined benefit pension plan trusts, including the Retirement Restoration Plan, in the first 24 weeks of 2006. For the remainder of 2006, Safeway currently anticipates contributing an additional $16.2 million to these trusts.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki