Employee Benefits

9 Months Ended

Sep. 30, 2017

Employee Benefits

Employee Benefits

Note 6 – Employee Benefits

Effective January 1, 2017, Seaboard merged the assets and liabilities of its two defined benefit pension plans for its domestic salaried and clerical employees. At this time, no contributions are expected to be made to the combined plan in 2017. Seaboard also sponsors non-qualified, unfunded supplemental executive plans, and has certain individual, non-qualified, unfunded supplemental retirement agreements for certain retired 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				Nine Months Ended
	September 30,		October 1,		September 30,		October 1,
(Millions of dollars)	2017		2016		2017		2016
Components of net periodic benefit cost:
Service cost	$	2	$	3	$	6	$	7
Interest cost		3		2		8		8
Expected return on plan assets		(2)		(2)		(7)		(6)
Amortization and other		1		1		4		3
Net periodic benefit cost	$	4	$	4	$	11	$	12