PENSION PLANS (Tables)

12 Months Ended

Jul. 29, 2017

Schedule of Net Benefit Costs Recognized

Net periodic pension cost for the four plans include the following components:



	2017			2016			2015
Service cost	$	388		$	3,099		$	3,642
Interest cost on projected benefit obligation	2,424			3,031			3,055
Expected return on plan assets	(3,684		)	(3,645		)	(3,719		)
Loss (gain) on settlement	965			—			(239		)
Amortization of gains and losses	1,343			1,504			1,295
Net periodic pension cost	$	1,436		$	3,989		$	4,034

Schedule of Amounts Recognized In Plan Assets and Benefit Obligations Recognized

The changes in benefit obligations and the reconciliation of the funded status of the Company’s plans to the consolidated balance sheets were as follows:



	2017			2016
Changes in Benefit Obligation:
Benefit obligation at beginning of year	$	80,021		$	83,961
Service cost	388			3,099
Interest cost	2,424			3,031
Benefits paid	(549		)	(3,440		)
Curtailment	—			(17,904		)
Settlement	(4,487		)	—
Actuarial loss	(6,096		)	11,274
Benefit obligation at end of year	$	71,701		$	80,021

Changes in Plan Assets:
Fair value of plan assets at beginning of year	$	53,281		$	51,729
Actual return on plan assets	5,262			1,468
Employer contributions	3,000			3,524
Benefits paid	(549		)	(3,440		)
Settlements paid	(4,487		)	—
Fair value of plan assets at end of year	56,507			53,281

Funded status at end of year	$	15,194		$	26,740

Amounts recognized in the consolidated balance sheets:
Pension liabilities	15,194			26,740
Accumulated other comprehensive loss, net of income taxes	7,406			13,339

Amounts included in Accumulated other comprehensive loss (pre-tax):
Net actuarial loss	$	12,521		$	22,502

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

The following information is presented for those plans with an accumulated benefit obligation in excess of plan assets:



	2017		2016
Projected benefit obligation	$	70,019	$	80,021
Accumulated benefit obligation	70,019		80,021
Fair value of plan assets	54,557		53,281

Schedule of Assumptions Used

Weighted average assumptions used to determine benefit obligations and net periodic pension cost for the Company’s defined benefit plans were as follows:



	2017		2016		2015
Assumed discount rate — net periodic pension cost	3.08	%	4.02	%	3.95	%
Assumed discount rate — benefit obligation	3.60	%	3.08	%	4.02	%
Assumed rate of increase in compensation levels	4 - 4.5	%	4 - 4.5	%	4 - 4.5	%
Expected rate of return on plan assets	7.50	%	7.50	%	7.50	%

Schedule of Allocation of Plan Assets

The fair value of the pension assets were as follows:



	July 29, 2017						July 30, 2016
Asset Category	Level 1		Level 2		Total		Level 1		Level 2		Total
Cash	$	166	$	610	$	776	$	1,173	$	—	$	1,173

Equity securities:
Company stock	636		—		636		770		—		770
U.S large cap (1)	19,696		1,197		20,893		18,416		—		18,416
U.S. small/mid cap (2)	6,644		179		6,823		6,591		—		6,591
International (3)	7,187		421		7,608		6,752		—		6,752
Emerging markets (4)	1,277		—		1,277		1,219		—		1,219

Fixed income securities:
U.S treasuries (5)	9,520		356		9,876		10,560		—		10,560
Mortgage-backed (5)	1,783		106		1,889		—		1,918		1,918
Corporate bonds (5)	2,931		3,179		6,110		3,054		2,140		5,194
International (6)	619		—		619		688		—		688

Total	$	50,459	$	6,048	$	56,507	$	49,223	$	4,058	$	53,281


(1)	Includes directly owned securities and mutual funds, primarily low-cost equity index funds not actively managed that track the S&P 500.


(2)	Includes directly owned securities and mutual funds, which invest in diversified portfolios of publicly traded U.S. common stocks of small and medium cap companies.


(3)	Includes directly owned securities and mutual funds, which invest in diversified portfolios of publicly traded common stocks of large, non-U.S. companies.


(4)	Consists of mutual and exchange traded funds which invest in non-U.S. stocks in emerging markets.


(5)	Includes directly owned securities, mutual funds and exchange traded funds.


(6)	Consists of exchange traded funds which invest in non-U.S. bonds in emerging markets.

Schedule of Expected Benefit Payments

Based on actuarial assumptions, estimated future defined benefit payments, which may be significantly impacted by participant elections related to retirement dates and forms of payment, are as follows:



Fiscal Year
2018	$	3,670
2019	2,530
2020	3,130
2021	3,101
2022	12,750
2023 - 2027	17,830

Schedule of Multiemployer Plans

The Company’s participation in these plans is outlined in the following tables. The “EIN / Pension Plan Number” column provides the Employer Identification Number (“EIN”) and the three-digit pension plan number. The most recent “Pension Protection Act Zone Status” available in 2016 and 2015 is for the plan’s year-end at December 31, 2016 and December 31, 2015, respectively, unless otherwise noted. Among other factors, generally, plans in the red zone are less than 65 percent funded, plans in the yellow zone are between 65 and 80 percent funded and plans in the green zone are at least 80 percent funded. The “FIP/RP Status Pending / Implemented” column indicates plans for which a funding improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending or has been implemented.



		Pension Protection Act Zone Status		FIP/RP Status Pending / Implemented	Contributions for the year ended (5)							Expiration date of Collective- Bargaining Agreement
Pension Fund	EIN / Pension Plan Number	2016	2015	FIP/RP Status Pending / Implemented	July 29, 2017		July 30, 2016		July 25, 2015		Surcharge Imposed (6)	Expiration date of Collective- Bargaining Agreement
Pension Plan of Local 464A (1)	22-6051600-001	Green	Green	N/A	$	762	$	679	$	665	N/A	October 2020
UFCW Local 1262 & Employers Pension Fund (2), (4)	22-6074414-001	Red	Red	Implemented	3,498		3,510		3,501		No	October 2018
UFCW Regional Pension Plan (3), (4)	16-6062287-074	Red	Red	Implemented	1,314		1,275		1,235		No	March 2019
Total Contributions					$	5,574	$	5,464	$	5,401


(1)	The information for this fund was obtained from the Form 5500 filed for the plan’s year-end at December 31, 2016 and December 31, 2015.


(2)	The information for this fund was obtained from the Form 5500 filed for the plan’s year-end at December 31, 2015 and December 31, 2014.


(3)	The information for this fund was obtained from the Form 5500 filed for the plan’s year-end at September 30, 2016 and September 30, 2015.


(4)	This plan has elected to utilize special amortization provisions provided under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010. There were no changes to the plan’s zone status as a result of this election.


(5)	The Company’s contributions represent more than 5% of the total contributions received by each applicable pension fund for all periods presented.


(6)	Under the Pension Protection Act, a surcharge may be imposed when employers make contributions under a collective bargaining agreement that is not in compliance with a rehabilitation plan. As of July 29, 2017, the collective bargaining agreements under which the Company was making contributions were in compliance with rehabilitation plans adopted by each applicable pension fund.