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SWY » Topics » NOTE H-EMPLOYEE BENEFIT PLANS

This excerpt taken from the SWY 10-Q filed Oct 8, 2008.

NOTE H–EMPLOYEE BENEFIT PLANS

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

 

     12 Weeks
Ended
Sept. 6,
2008		     12 Weeks
Ended
Sept. 8,
2007		     36 Weeks
Ended
Sept. 6,
2008		     36 Weeks
Ended
Sept. 8,
2007		  

Estimated return on assets

    $ (39.3 )   $ (39.2 )   $ (118.2 )   $ (116.8 )

Service cost

      23.4       21.7       70.4       64.3  

Interest cost

      28.8       27.9       86.6       83.0  

Amortization of prior service cost

      5.0       5.3       15.2       15.9  

Amortization of unrecognized losses

      1.4       1.3       4.2       3.7  
                                

Net pension expense

    $ 19.3     $ 17.0     $ 58.2     $ 50.1  
                                

Safeway made approximately $28.0 million of contributions to its defined benefit pension plan trusts, including $2.5 million for the Retirement Restoration Plan, in the first 36 weeks of 2008. For the remainder of 2008, Safeway currently anticipates contributing an additional $11.8 million to these trusts.

This excerpt taken from the SWY 10-Q filed Oct 16, 2007.

NOTE H–EMPLOYEE BENEFIT PLANS

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

 

    

12 Weeks
Ended

Sept. 8,
2007

    

12 Weeks
Ended

Sept. 9,
2006

    

36 Weeks
Ended

Sept. 8,
2007

    

36 Weeks
Ended

Sept. 9,
2006

  

Estimated return on assets

    $ (39.2 )   $ (37.0 )   $ (116.8 )   $ (112.8 )

Service cost

      21.7       23.4       64.3       70.1  

Interest cost

      27.9       25.8       83.0       76.9  

Amortization of prior service cost

      5.3       5.3       15.9       16.0  

Amortization of unrecognized losses

      1.3       1.7       3.7       4.9  
                                

Net pension expense

    $ 17.0     $ 19.2     $ 50.1     $ 55.1  
                                

Safeway made approximately $26.4 million of contributions to its defined benefit pension plan trusts, including $2.9 million for the Retirement Restoration Plan, in the first 36 weeks of 2007. For the remainder of 2007, Safeway currently anticipates contributing an additional $9.7 million to these trusts.

 

11

Table of Contents

SAFEWAY INC. AND SUBSIDIARIES

This excerpt taken from the SWY 10-Q filed Jul 23, 2007.

NOTE H–EMPLOYEE BENEFIT PLANS

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

 

    

12 Weeks
Ended

June 16,

2007

    

12 Weeks
Ended

June 17,

2006

    

24 Weeks
Ended

June 16,

2007

    

24 Weeks
Ended

June 17,

2006

  

Estimated return on assets

    $ (38.9 )   $ (37.9 )   $ (77.6 )   $ (75.8 )

Service cost

      21.4       23.7       42.5       46.7  

Interest cost

      27.7       25.9       55.2       51.1  

Amortization of prior service cost

      5.3       5.3       10.6       10.6  

Amortization of unrecognized losses

      1.2       1.9       2.4       3.3  
                                

Net pension expense

    $ 16.7     $ 18.9     $ 33.1     $ 35.9  
                                

Safeway made approximately $20.0 million of contributions to its defined benefit pension plan trusts, including $1.8 million for the Retirement Restoration Plan, in the first 24 weeks of 2007. For the remainder of 2007, Safeway currently anticipates contributing an additional $15.6 million to these trusts.

 

11

Table of Contents

SAFEWAY INC. AND SUBSIDIARIES

 

EXCERPTS ON THIS PAGE:

10-Q
Oct 8, 2008
10-Q
Oct 16, 2007
10-Q
Jul 23, 2007

RELATED TOPICS for SWY:

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