Employee Benefit Plans

3 Months Ended

Jun. 02, 2012

Employee Benefit Plans [Abstract]

Employee Benefit Plans

10. Employee Benefit Plans

Components of net periodic benefit cost for the Company’s Officers’ Supplemental Executive Retirement Plan and Tubelite, Inc. Hourly Employees’ Pension Plan for the three-month periods ended June 2, 2012 and May 28, 2011, were as follows:

	Three months ended
(In thousands)	June 2, 2012			May 28, 2011
Interest cost	$	142		$	164
Expected return on assets		(44	)		(54	)
Amortization of unrecognized net loss		53			30
Net periodic benefit cost	$	151		$	140

The Company maintains a deferred compensation plan that allows participants to defer compensation and assist in saving for retirement and other short-term needs. The deferred compensation liability was $2.6 million at June 2, 2012 and is included in other long-term liabilities in the consolidated balance sheet. The Company has investments in corporate-owned life insurance policies (COLI) of $2.4 million and mutual funds of $0.6 million with the intention of utilizing them as a long-term funding source for the deferred compensation plan. The COLI assets are recorded at their net cash surrender values and are included in other non-current assets in the consolidated balance sheet. The mutual fund investments are recorded at estimated fair value, based on quoted market prices, and are included in other non-current assets in the consolidated balance sheet.