v2.3.0.11
PENSION AND OTHER POSTRETIREMENT PLANS (Note)
 9 Months Ended
Aug. 27, 2011
Compensation and Retirement Disclosure [Abstract]  
PENSION AND OTHER POSTRETIREMENT PLANS
PENSION AND OTHER POSTRETIREMENT PLANS
 
The Company provides various retirement benefits, including defined benefit plans and postretirement healthcare plans covering certain current and retired employees in the U.S. and abroad.  During the first quarter of 2011, the Company recorded settlement costs in connection with the retirement of one of its former executive officers. Components of net periodic benefit cost and Company contributions for these plans were as follows:


 
Quarter Ended
 
Nine Months Ended
 
August 27,

2011
 
August 28,

2010
 
August 27,

2011
 
August 28,

2010
Pension Benefits:
 
 
 
 
 
 
 
Components of net periodic benefit cost (income):
 
 
 
 
 
 
 
Service cost
$
492


 
$
527


 
$
1,476


 
$
1,582


Interest cost
2,013


 
2,033


 
6,037


 
6,103


Expected return on plan assets
(1,923
)
 
(1,778
)
 
(5,766
)
 
(5,340
)
Settlement cost
—


 
—


 
1,368


 
—


Amortization of unrecognized:
 


 
 
 
 
 
 
Prior service cost
(98
)
 
(98
)
 
(296
)
 
(296
)
Net actuarial loss (gain)
1,265


 
1,200


 
3,688


 
3,600


Net periodic benefit cost (income)
$
1,749


 
$
1,884


 
$
6,507


 
$
5,649


 
 
 
 
 
 
 
 
Cash contributions
$
10,510


 
$
2,935


 
$
12,752


 
$
3,121


 
 
 
 
 
 
 
 
Postretirement Healthcare Benefits:
 
 
 
 
 
 
 
Components of net periodic benefit cost (income):
 
 
 
 
 
 
 
Interest cost
$
6


 
$
8


 
$
18


 
$
24


Amortization of unrecognized:
 
 
 
 
 
 
 
Prior service cost
(31
)
 
(31
)
 
(93
)
 
(93
)
Net actuarial loss (gain)
(32
)
 
(32
)
 
(96
)
 
(96
)
Net periodic benefit cost (income)
$
(57
)
 
$
(55
)
 
$
(171
)
 
$
(165
)
 
 
 
 
 
 
 
 
Cash contributions
$
30


 
$
39


 
$
90


 
$
117


 


The Company’s policy is to contribute to its qualified U.S. and non-U.S. pension plans at least the minimum amount required by applicable laws and regulations, to contribute to the U.S. combined nonqualified plans when required for benefit payments, and to contribute to the postretirement healthcare benefit plan an amount equal to the benefit payments.  The Company, from time to time, makes voluntary contributions in excess of the minimum amount required as economic conditions warrant. During the nine months ended August 27, 2011, the Company contributed $12,842 to its various plans and expects to contribute up to the following amounts to its various plans to pay benefits during 2011.


U.S. Qualified Plans
$
11,843


U.S. Combined Nonqualified Plans
2,194


Non-U.S. Plan
403


Postretirement Healthcare Benefit Plan
121


Total expected contributions
$
14,561






In addition to the plan assets related to its qualified plans, the Company has also funded $1,249 and $1,258 at August 27, 2011 and November 27, 2010, respectively, into a restricted trust for its U.S. combined nonqualified plans (see Note 6).  This trust is included in Other noncurrent assets in the Consolidated Condensed Balance Sheets.