Employee Benefits

6 Months Ended

Jul. 02, 2011

Employee Benefits

Employee Benefits

Note 6 — Employee Benefits

Seaboard maintains two defined benefit pension plans for its domestic salaried and clerical employees.  At this time, no contributions are expected to be made to these plans in 2011.  Seaboard also sponsors non-qualified, unfunded supplemental executive plans, and unfunded supplemental retirement agreements with certain executive employees.  Management has no plans to provide funding for these supplemental plans in advance of when the benefits are paid.

The net periodic benefit cost for all of these plans was as follows:

	Three Months Ended						Six Months Ended
	July 2,			July 3,			July 2,			July 3,
(Thousands of dollars)	2011			2010			2011			2010
Components of net periodic benefit cost:
Service cost	$	1,805		$	1,558		$	3,732		$	3,169
Interest cost	2,249			2,165			4,543			4,327
Expected return on plan assets	(1,684		)	(1,573		)	(3,319		)	(3,107		)
Amortization and other	992			994			2,043			1,997
Net periodic benefit cost	$	3,362		$	3,144		$	6,999		$	6,386