Pension and Savings Plans

8 Months Ended

May 06, 2017

Note G – Pension and Savings Plans

The components of net periodic pension expense related to the Company’s pension plans consisted of the following:


	Twelve Weeks Ended						Thirty-Six Weeks Ended
(in thousands)	May 6, 2017			May 7, 2016			May 6, 2017			May 7, 2016
Interest cost	$	2,385		$	2,601		$	7,155		$	7,804
Expected return on plan assets		(4,628	)		(3,810	)		(13,885	)		(11,431	)
Amortization of net loss		3,201			2,424			9,605			7,273

Net periodic pension expense	$	958		$	1,215		$	2,875		$	3,646

The Company makes contributions in amounts at least equal to the minimum funding requirements of the Employee Retirement Income Security Act of 1974, as amended by the Pension Protection Act of 2006. During the thirty-six week period ended May 6, 2017, the Company did not make contributions to its funded plan. The Company expects to contribute approximately $17.5 million to the plan during the remainder of fiscal 2017; however, a change to the expected cash funding may be impacted by a change in interest rates, a change in the actual or expected return on plan assets or through other plans initiated by management.