10.  Retirement Benefit Plans

 

The components of net periodic benefit expense/(income) for our non-contributory qualified defined benefit pension plan (primary plan), non-contributory supplemental pension plans and contributory postretirement health and welfare plan are as follows:

		Three Months Ended						Six Months Ended
		July 28,			July 30,			July 28,			July 30,
Primary Plan		2012			2011			2012			2011
Service cost	$	23		$	22		$	46		$	44
Interest cost		62			62			124			124
Expected return on plan assets		(95)			(97)			(189)			(193)
Net amortization		58			34			116			68
Net periodic benefit expense/(income)	$	48		$	21		$	97		$	43
Supplemental Plans
Service cost	$	1		$	-		$	1		$	1
Interest cost		4			3			7			6
Expected return on plan assets		-			-			-			-
Net amortization		5			4			11			7
Net periodic benefit expense/(income)	$	10		$	7		$	19		$	14
Primary and Supplemental Plans Total
Service cost	$	24		$	22		$	47		$	45
Interest cost		66			65			131			130
Expected return on plan assets		(95)			(97)			(189)			(193)
Net amortization		63			38			127			75
Net periodic benefit expense/(income)	$	58		$	28		$	116		$	57
Postretirement Health and Welfare Plan
Service cost	$	-		$	-		$	-		$	-
Interest cost		1			-			1			-
Expected return on plan assets		-			-			-			-
Net amortization		(3)			(7)			(7)			(13)
Net periodic benefit expense/(income)	$	(2)		$	(7)		$	(6)		$	(13)
Retirement Benefit Plans Total
Service cost	$	24		$	22		$	47		$	45
Interest cost		67			65			131			130
Expected return on plan assets		(95)			(97)			(189)			(193)
Net amortization		60			31			120			62
Net periodic benefit expense/(income)	$	56		$	21		$	109		$	44

Net periodic benefit expense/(income) for our noncontributory postretirement health and welfare plan is predominantly included in SG&A expense on the Consolidated Statements of Operations.

    

 

Defined Contribution Plans    

Our defined contribution plans include a qualified Savings, Profit-Sharing and Stock Ownership Plan (401(k) plan), which includes a non-contributory retirement account, and a non-qualified contributory unfunded mirror savings plan offered to certain members of management. Total expense for our defined contribution plans for the second quarters of 2012 and 2011 was $14 million and $16 million, respectively, and was predominantly included in SG&A expenses on the Consolidated Statements of Operations.  Total expense for the first six months of 2012 and 2011 was $30 million and $32 million, respectively.