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Pension and Postretirement Plans
 3 Months Ended
Apr. 29, 2017
Pension and Postretirement Plans [Abstract]  
Pension and Postretirement Plans

10. Pension and Postretirement Plans



The Company has defined benefit pension plans covering certain of its North American employees, which are funded in accordance with the provisions of the laws where the plans are in effect. The Company also has a defined benefit pension plan covering certain employees of the Runners Point Group.



In addition to providing pension benefits, the Company sponsors postretirement medical and life insurance plans, which are available to most of its retired U.S. employees. These medical and life insurance plans are contributory and are not funded.



The following are the components of net periodic pension benefit cost and net periodic postretirement benefit income, which are recognized as part of SG&A expense:





 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Pension Benefits

 

Postretirement Benefits



 

Thirteen weeks ended

 

Thirteen weeks ended



 

April 29,

 

April 30,

 

April 29,

 

April 30,

($ in millions)

 

2017

 

2016

 

2017

 

2016

Service cost

 

$

 4 

 

$

 4 

 

$

 —

 

$

 —

Interest cost

 

 

 6 

 

 

 6 

 

 

 —

 

 

 —

Expected return on plan assets

 

 

 (9)

 

 

 (9)

 

 

 —

 

 

 —

Amortization of net loss (gain)

 

 

 3 

 

 

 4 

 

 

 —

 

 

 (1)

Net benefit expense (income)

 

$

 4 

 

$

 5 

 

$

 —

 

$

 (1)



On February 23, 2017, the Company made a contribution of $25 million to the U.S. qualified plan. The Company continually evaluates the amount and timing of any future contributions. The Company currently does not expect to make any further pension plan contributions during this year. Actual contributions are dependent on several factors, including the outcome of the ongoing U.S. pension litigation. See Note 12, Legal Proceedings, for further information.