Employee Benefit Plans

6 Months Ended

Sep. 01, 2012

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Pension Plans

The Company sponsors an unfunded Officers’ Supplemental Executive Retirement Plan (SERP) for the benefit of certain executives and a defined-benefit pension plan, the Tubelite, Inc. Hourly Employees’ Pension Plan (Tubelite plan). Components of net periodic benefit cost for the plans for the three and six-month periods ended September 1, 2012 and August 27, 2011, were as follows:

	Three Months Ended						Six Months Ended
(In thousands)	September 1, 2012			August 27, 2011			September 1, 2012			August 27, 2011
Interest cost	$	142		$	164		$	284		$	328
Expected return on assets	(44		)	(54		)	(88		)	(108		)
Amortization of unrecognized net loss	53			30			106			60
Net periodic benefit cost	$	151		$	140		$	302		$	280

Deferred Compensation Plan

The Company maintains a deferred compensation plan that allows participants to defer compensation and save for retirement and other short-term needs. The deferred compensation liability was $2.7 million at September 1, 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 $0.7 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.