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SWY » Topics » NOTE H-PENSION PLAN

This excerpt taken from the SWY 10-Q filed May 1, 2009.

NOTE H–PENSION PLAN

The following table provides the components of net pension expense for retirement plans for the first 12 weeks of 2009 and 2008 (in millions):

 

     12 Weeks Ended  
     March 28, 2009     March 22, 2008  

Estimated return on assets

    $ (25.1 )   $ (39.4 )

Service cost

      10.6       23.3  

Interest cost

      26.8       28.9  

Amortization of prior service cost

      4.5       5.0  

Amortization of unrecognized losses

      15.5       1.4  
                

Net pension expense

    $ 32.3     $ 19.2  
                

The Company made approximately $13.1 million of contributions to its defined benefit pension plan trusts, including $0.9 million for the Retirement Restoration Plan, in the first quarter of 2009. For the remainder of 2009, Safeway currently anticipates contributing an additional $24.2 million to these trusts.

This excerpt taken from the SWY 10-Q filed Apr 28, 2008.

NOTE H–PENSION PLAN

The following table provides the components of net pension expense for retirement plans for the first 12 weeks of 2008 and 2007 (in millions):

 

     12 Weeks Ended  
     March 22,
2008		     March 24,
2007		  

Estimated return on assets

    $ (39.4 )   $ (38.7 )

Service cost

      23.3       21.1  

Interest cost

      28.9       27.4  

Amortization of prior service cost

      5.0       5.3  

Amortization of unrecognized losses

      1.4       1.2  
                

Net pension expense

    $ 19.2     $ 16.3  
                

The Company made approximately $15.1 million of contributions to its defined benefit pension plan trusts, including $0.7 million for the Retirement Restoration Plan, in the first quarter of 2008. For the remainder of 2008, Safeway currently anticipates contributing an additional $25.9 million to these trusts.

EXCERPTS ON THIS PAGE:

10-Q
May 1, 2009
10-Q
Apr 28, 2008

RELATED TOPICS for SWY:

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