Pension and Other Post-Retirement Benefit Plans

9 Months Ended

Oct. 29, 2011

Pension and Other Post Retirement Benefit Plans Disclosure [Abstract]

Pension and Other Post-Retirement Benefit Plans

Pension and Other Post-Retirement Benefit Plans

In connection with the acquisition of Corporate Express, Staples assumed the obligations under the defined benefit pension plans Corporate Express sponsored.  The pension plans cover certain employees in Europe and the United States.   The benefits due to U.S. plan participants are frozen.  A number of the defined benefit plans outside the U.S. are funded with plan assets that have been segregated in trusts.  Contributions are made to these trusts, as necessary, to meet legal and other requirements.

In August 2010, the Company began sponsoring an unfunded post-retirement life insurance benefit plan, which provides benefits to eligible U.S. executives based on earnings, years of service and age at termination of employment.

The total net cost recognized for the third quarter and year-to-date2011 and 2010 associated with the pension and other post-retirement benefit plans is based upon preliminary estimates pending the final actuarial determination of such costs. The following table presents a summary of the total net periodic cost recorded in the condensed consolidated statement of income for the third quarter and year-to-date2011 and 2010 related to the plans (in thousands):

	13 Weeks Ended October 29, 2011
	Pension Plans									Other Post-Retirement Benefit Plan Total
	U.S. Plans			International Plans			Total
Service cost	$	—		$	2,404		$	2,404		$	473
Interest cost	466			10,178			10,644			396
Expected return on plan assets	(422		)	(13,922		)	(14,344		)	—
Amortization of unrecognized losses and prior service costs	—			352			352			459
Total cost (benefit)	$	44		$	(988	)	$	(944	)	$	1,328

	13 Weeks Ended October 30, 2010
	Pension Plans									Other Post-Retirement Benefit Plan Total
	U.S. Plans			International Plans			Total
Service cost	$	—		$	1,964		$	1,964		$	447
Interest cost	463			8,178			8,641			347
Expected return on plan assets	(435		)	(13,720		)	(14,155		)	—
Amortization of unrecognized losses and prior service costs	—			874			874			—
Total cost (benefit)	$	28		$	(2,704	)	$	(2,676	)	$	794

	39 Weeks Ended October 29, 2011
	Pension Plans									Other Post-Retirement Benefit Plan Total
	U.S. Plans			International Plans			Total
Service cost	$	—		$	7,211		$	7,211		$	1,370
Interest cost	1,398			30,536			31,934			1,148
Expected return on plan assets	(1,266		)	(41,768		)	(43,034		)	—
Amortization of unrecognized losses and prior service costs	—			1,056			1,056			1,331
Total cost (benefit)	$	132		$	(2,965	)	$	(2,833	)	$	3,849

	39 Weeks Ended October 30, 2010
	Pension Plans									Other Post-Retirement Benefit Plan Total
	U.S. Plans			International Plans			Total
Service cost	$	—		$	6,308		$	6,308		$	447
Interest cost	1,389			26,268			27,657			347
Expected return on plan assets	(1,305		)	(44,068		)	(45,373		)	—
Amortization of unrecognized losses and prior service costs	—			2,808			2,808			—
Total cost (benefit)	$	84		$	(8,684	)	$	(8,600	)	$	794

Cash contributions made to the pension plans during the third quarter and year-to-date2011 and 2010 are as follows (in thousands):

	13 Weeks Ended				39 Weeks Ended
	October 29, 2011		October 30, 2010		October 29, 2011		October 30, 2010
U.S. Pension Plans	$	194	$	506	$	582	$	1,030
International Pension Plans	1,321		3,327		5,291		8,507
Total	$	1,515	$	3,833	$	5,873	$	9,537

The Company expects to make additional cash contributions of $0.2 million and $6.9 million to the U.S. Pension Plans and International Pension Plans, respectively, during the remainder of fiscal year 2011.  No cash contributions are expected to be made during 2011 to the Company’s other post-retirement benefit plans.