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Employee Benefit Plans (Tables)
 3 Months Ended 12 Months Ended
Mar. 22, 2014
Dec. 28, 2013
Compensation and Retirement Disclosure [Abstract]    
Schedule of components of net pension expense
The following tables provide the components of net pension and post-retirement expense (in millions):
 
12 Weeks Ended
 
March 22, 2014
 
March 23, 2013
 
Pension
 
Other Post-
Retirement
Benefits
 
Pension
 
Other Post-
Retirement
Benefits
Estimated return on assets
$
(27.5
)
 
$
—

 
$
(24.9
)
 
$
—

Service cost
9.8

 
0.2

 
9.7

 
0.1

Interest cost
22.2

 
0.8

 
19.7

 
0.7

Amortization of prior service cost (credit)
2.2

 
—

 
3.0

 
—

Amortization of unrecognized losses
9.8

 
0.1

 
18.0

 
0.2

Total
$
16.5

 
$
1.1

 
$
25.5

 
$
1.0

  
Reconciliation of changes in retirement plans' benefit obligations, fair value assets, and statement of the funded status  
The following table provides a reconciliation of the changes in the retirement plans’ benefit obligation and fair value of assets over the two-year period ended December 28, 2013 and a statement of the funded status as of year-end 2013 and year-end 2012 (in millions):
 
Pension
 
Other Post-Retirement Benefits
  
2013
2012
 
2013
2012
Change in projected benefit obligation:
 
 
 
 
 
Beginning balance
$
2,635.4

$
2,424.5

 
$
135.0

$
131.1

Service cost
42.0

40.3

 
0.7

0.6

Interest cost
85.4

91.8

 
3.2

3.6

Plan amendments
0.2

0.4

 
—

—

Actuarial loss (gain)
(56.3
)
176.0

 
(5.0
)
6.6

Plan participant contributions
—

—

 
1.0

1.0

Benefit payments
(133.3
)
(131.6
)
 
(7.2
)
(7.3
)
Change in projected benefit obligation related to CSL
(39.5
)
34.0

 
1.3

(0.6
)
Disposal of CSL
(510.5
)
—

 
(49.5
)
—

Ending balance
$
2,023.4

$
2,635.4

 
$
79.5

$
135.0

Change in fair value of plan assets:
 
 
 
 
 
Beginning balance
$
1,845.7

$
1,641.4

 
$
—

$
—

Actual return on plan assets
268.6

179.3

 
—

—

Employer contributions
50.1

104.1

 
6.2

6.3

Plan participant contributions
—

—

 
1.0

1.0

Benefit payments
(133.3
)
(131.6
)
 
(7.2
)
(7.3
)
Change in fair value of plan assets related to CSL
32.8

52.5

 
—

—

Disposal of CSL
(419.7
)
—

 
—

—

Ending balance
$
1,644.2

$
1,845.7

 
$
—

$
—

Components of net amount recognized in financial position:
 
 
 
 
 
Other accrued liabilities (current liability)
$
(1.1
)
$
(2.3
)
 
$
(6.2
)
$
(7.9
)
Pension and postretirement benefit obligations (non-current liability)
(378.1
)
(787.4
)
 
(73.3
)
(127.1
)
Funded status
$
(379.2
)
$
(789.7
)
 
$
(79.5
)
$
(135.0
)
Summary of pension benefit amounts recognized in accumulated other comprehensive income  
Amounts recognized in accumulated other comprehensive income consist of the following (in millions):
 
Pension
 
Other Post-Retirement
Benefits
  
2013
2012
 
2013
2012
Net actuarial loss
$
365.0

$
872.5

 
$
10.6

$
25.4

Prior service cost (credit)
14.3

17.3

 
(1.1
)
(3.2
)
 
$
379.3

$
889.8

 
$
9.5

$
22.2
Summary of accumulated benefit obligation in excess of plan assets  
Information for Safeway’s pension plans, all of which have an accumulated benefit obligation in excess of plan assets as of year-end 2013 and 2012, is shown below (in millions):
 
2013
2012
Projected benefit obligation
$
2,023.4

$
2,635.4

Accumulated benefit obligation
1,978.3

2,554.4

Fair value of plan assets
1,644.2

1,845.7
Schedule of components of net pension expense and changes in plan assets and benefit obligations recognized in other comprehensive income  
The following tables provide the components of net expense for the retirement plans and other changes in plan assets and benefit obligations recognized in other comprehensive income (in millions): 
 
Pension
 
Other Post-Retirement
Benefits
Components of net expense:
2013
2012
2011
 
2013
2012
2011
Estimated return on plan assets
$
(107.9
)
$
(101.0
)
$
(116.0
)
 
$
—

$
—

$
—

Service cost
42.0

40.3

37.8

 
0.7

0.6

0.6

Interest cost
85.4

91.8

100.0

 
3.2

3.6

4.4

Settlement loss
—

5.9

1.1

 
—

—

—

Curtailment loss
—

1.8

—

 
—

—

—

Amortization of prior service cost (credit)
12.8

15.3

17.4

 
(0.1
)
(0.1
)
(0.1
)
Amortization of net actuarial loss
77.8

70.3

53.3

 
0.9

0.5

0.4

Net expense
$
110.1

$
124.4

$
93.6

 
$
4.7

$
4.6

$
5.3

 
 
 
 
 
 
 
 
Changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
 
 
Net actuarial (gain) loss
$
(216.9
)
$
97.8

$
228.6

 
$
(5.0
)
$
6.6

$
3.4

Recognition of net actuarial loss
(77.8
)
(76.3
)
(54.4
)
 
(0.9
)
(0.5
)
(0.4
)
Prior service credit
0.2

0.5

1.0

 
—

—

—

Recognition of prior service (cost) credit
(12.8
)
(17.0
)
(17.4
)
 
0.1

0.1

0.1

Changes relating to discontinued operations
(55.5
)
9.0

87.4

 
(3.0
)
(5.0
)
(6.7
)
Total recognized in other comprehensive income
(362.8
)
14.0

245.2

 
(8.8
)
1.2

(3.6
)
Total net expense and changes in plan assets and benefit obligations recognized in comprehensive income
$
(252.7
)
$
138.4

$
338.8

 
$
(4.1
)
$
5.8

$
1.7
Actuarial assumptions used to determine year-end projected benefit obligation, table  
The actuarial assumptions used to determine year-end projected benefit obligations for pension plans were as follows:
 
 
2013

2012

2011

Discount rate:
 
 
 
United States plans
4.90
%
4.20
%
4.94
%
Canadian plans
 
4.00
%
4.25
%
Combined weighted-average rate
 
4.16
%
4.80
%
Rate of compensation increase:



United States plans
3.00
%
3.00
%
3.00
%
Canadian plans
 
2.75
%
2.75
%

The actuarial assumptions used to determine net periodic benefit costs for pension plans were as follows: 
 
2013

2012

2011

Discount rate
4.20
%
4.94
%
5.69
%
Expected return on plan assets:
7.50
%
7.75
%
8.50
%
Rate of compensation increase
3.00
%
3.00
%
3.00
%
Summary of actual assets allocations for defined benefit plans  
The following table summarizes actual allocations for Safeway’s plans (including Canadian plans in 2012) at year-end: 
 
 
Plan assets
Asset category
Target

2013

2012

Equity
65
%
66.4
%
64.3
%
Fixed income
35
%
31.9
%
33.0
%
Cash and other
—

1.7
%
2.7
%
Total
100
%
100.0
%
100.0
%
Fair value of pension plan assets, excluding pending transactions by asset category  
 
Fair Value Measurements
Asset category:
Total
Quoted prices in active markets
for identical
assets
(Level 1)
Significant
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3)
Cash and cash equivalents (1)
$
30.2

$
29.0

$
1.2

$
—

Short-term investment collective trust (2)
18.2

—

18.2

—

Common and preferred stock: (3)
 
 
 
 
Domestic common and preferred stock
270.4

269.9

0.5

—

International common stock
38.5

38.5

—

—

Common collective trust funds (2)
611.2

—

611.2

—

Corporate bonds (4)
101.1

—

101.1

—

Mortgage- and other asset-backed securities (5)
62.3

—

62.3

—

Mutual funds (6)
183.8

5.9

177.9

—

U.S. government securities (7)
335.8

—

335.7

0.1

Other securities (8)
29.9

3.1

19.0

7.8

Total
$
1,681.4

$
346.4

$
1,327.1

$
7.9


(1) 
The carrying value of these items approximates fair value.
(2) 
These investments are valued based on the Net Asset Value (“NAV”) of the underlying investments and are provided by the fund issuers.
(3) 
The fair value of common stock is based on the exchange quoted market prices. When quoted prices are not available for preferred stock, an industry standard valuation model is used which maximizes observable inputs.
(4) 
The fair value of corporate bonds is generally based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar bonds, the fair value is based upon an industry valuation model, which maximizes observable inputs.
(5) 
The fair value of mortgage- and other asset-backed securities is generally based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for comparable securities, the fair value is based upon an industry model which maximizes observable inputs.
(6) 
These investments are publicly traded investments which are valued using the NAV. The NAV of the mutual funds is a quoted price in an active market. The NAV is determined once a day after the closing of the exchange based upon the underlying assets in the fund, less the fund’s liabilities, expressed on a per-share basis.
(7) 
The fair value of U.S. government securities is based on quoted market prices when available. When quoted prices are not available, the fair value of U.S. government securities is based on yields currently available on comparable securities or on an industry valuation model which maximizes observable inputs.
(8) 
Other securities, which consist primarily of U.S. municipal bonds, foreign government bonds and foreign agency securities are valued based on yields currently available on comparable securities of issuers with similar credit ratings.
The fair value of Safeway’s pension plan assets, including Canadian plans, at December 29, 2012, excluding pending transactions of $19.6 million, by asset category are as follows (in millions): 
 
Fair Value Measurements
Asset category:
Total
Quoted prices in
active markets
for identical
assets
(Level 1)
Significant
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3)
Cash and cash equivalents (1)
$
28.6

$
24.1

$
4.5

$
—

Short-term investment collective trust (2)
36.1

—

36.1

—

Common and preferred stock: (3)
 



Domestic common and preferred stock
256.6

256.1

0.5

—

International common stock
50.6

50.6

—

—

Common collective trust funds (2)
899.9

—

899.9

—

Corporate bonds (4)
96.0

—

92.6

3.4

Mortgage- and other asset-backed securities (5)
62.6

—

62.1

0.5

Mutual funds (6)
136.4

—

136.4

—

U.S. government securities (7)
270.6

—

270.5

0.1

Other securities (8)
27.9

—

27.9

—

Total
$
1,865.3

$
330.8

$
1,530.5

$
4.0



(1) 
The carrying value of these items approximates fair value.
(2) 
These investments are valued based on the Net Asset Value (“NAV”) of the underlying investments and are provided by the fund issuers.
(3) 
The fair value of common stock is based on the exchange quoted market prices. When quoted prices are not available for preferred stock, an industry standard valuation model is used which maximizes observable inputs.
(4) 
The fair value of corporate bonds is generally based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar bonds, the fair value is based upon an industry valuation model, which maximizes observable inputs.
(5) 
The fair value of mortgage- and other asset-backed securities is generally based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for comparable securities, the fair value is based upon an industry model which maximizes observable inputs.
(6) 
These investments are publicly traded investments which are valued using the NAV. The NAV of the mutual funds is a quoted price in an active market. The NAV is determined once a day after the closing of the exchange based upon the underlying assets in the fund, less the fund’s liabilities, expressed on a per-share basis.
(7) 
The fair value of U.S. government securities is based on quoted market prices when available. When quoted prices are not available, the fair value of U.S. government securities is based on yields currently available on comparable securities or on an industry valuation model which maximizes observable inputs.
(8) 
Other securities, which consist primarily of U.S. municipal bonds, foreign government bonds and foreign agency securities are valued based on yields currently available on comparable securities of issuers with similar credit ratings.
Schedule of level three defined benefit plan assets rollforward  
A reconciliation of the beginning and ending balances for Level 3 assets for the year ended December 28, 2013 follows (in millions): 
 
Fair Value Measured Using Significant
Unobservable Inputs (Level 3)
 
  
Total
Corporate
bonds
Mortgage- and other asset-backed securities
U.S.
government
securities
Other securities
Balance, beginning of year
$
4.0

$
3.4

$
0.5

$
0.1

$
—

Purchases, sales, settlements, net
4.0

(3.4
)
(0.5
)
—

7.9

Unrealized gains
(0.1
)
—

—

—

(0.1
)
Balance, end of year
$
7.9

$
—

$
—

$
0.1

$
7.8

A reconciliation of the beginning and ending balances for Level 3 assets for the year ended December 29, 2012 follows (in millions):
 
Fair Value Measured Using Significant
Unobservable Inputs (Level 3)
  
Total
Corporate
bonds
Mortgage- and other asset-backed securities
U.S.
government
securities
Balance, beginning of year
$
2.8

$
2.7

$
—

$
0.1

Purchases, sales, settlements, net
0.4

(0.1
)
0.5

—

Unrealized gains
0.8

0.8

—

—

Balance, end of year
$
4.0

$
3.4

$
0.5

$
0.1
Schedule of estimated future benefit payments  
The following benefit payments, which reflect expected future service as appropriate, are expected to be paid (in millions): 
 
Pension
benefits
Other
benefits
2014
$
107.3

$
6.5

2015
111.4

6.5

2016
114.9

6.5

2017
119.6

6.5

2018
122.0

6.4

2019 – 2023
648.2

31.2