Net periodic postretirement healthcare cost consisted of the following:
| |
|
Years Ended |
|
| |
|
2009 |
|
|
2008 |
|
Service cost |
|
$ |
11 |
|
|
$ |
15 |
|
Interest cost |
|
|
62 |
|
|
|
72 |
|
Amortization of prior service cost |
|
|
75 |
|
|
|
75 |
|
Amortization of actuarial loss |
|
|
(23 |
) |
|
|
2 |
|
Net periodic postretirement healthcare cost |
|
$ |
125 |
|
|
$ |
164 |
|
Weighted average assumptions for the fiscal years ended October 30, 2009 and October 31, 2008 are as follows:
| |
|
2009 |
|
|
2008 |
|
Discount rate |
|
|
5.75 |
% |
|
|
8.00 |
% |
Medical trend rate next year |
|
|
8.50 |
% |
|
|
9.00 |
% |
Ultimate trend rate |
|
|
5.00 |
% |
|
|
5.00 |
% |
Year ultimate trend rate is achieved |
|
|
2016 |
|
|
|
2016 |
|
The table below shows the estimated effect of a 1% increase in healthcare cost trend rate on the following:
| |
|
2009 |
|
|
2008 |
|
Interest cost plus service cost |
|
$ |
7 |
|
|
$ |
10 |
|
Accumulated postretirement healthcare obligation |
|
$ |
106 |
|
|
$ |
67 |
|
The table below shows the estimated effect of a 1% decrease in healthcare cost trend rate on the following:
| |
|
2009 |
|
|
2008 |
|
Interest cost plus service cost |
|
$ |
(6 |
) |
|
$ |
(8 |
) |
Accumulated postretirement healthcare obligation |
|
$ |
(89 |
) |
|
$ |
(57 |
) |
The healthcare obligation and funded status of this plan as of the fiscal years ended are as follows:
| |
|
2009 |
|
|
2008 |
|
Change in accumulated postretirement healthcare obligation: |
|
|
|
|
|
|
Healthcare obligations - beginning of year |
|
$ |
806 |
|
|
$ |
1,196 |
|
Service cost |
|
|
11 |
|
|
|
15 |
|
Interest cost |
|
|
63 |
|
|
|
72 |
|
Actuarial loss (gain) |
|
|
216 |
|
|
|
(465 |
) |
Benefits paid |
|
|
(30 |
) |
|
|
(12 |
) |
Healthcare obligations - end of year |
|
$ |
1,066 |
|
|
$ |
806 |
|
Funded status of the plans |
|
|
1,066 |
|
|
|
806 |
|
Unrecognized prior service costs |
|
|
(149 |
) |
|
|
(224 |
) |
Unrecognized net actuarial loss |
|
|
84 |
|
|
|
324 |
|
Accrued postretirement healthcare cost |
|
|
N/A |
|
|
|
N/A |
|
Unrecognized amounts recorded in other comprehensive income |
|
|
65 |
|
|
|
(100 |
) |
Postretirement healthcare liability |
|
$ |
1,066 |
|
|
$ |
806 |
|
Expected payments for the postretirement benefits are as follows:
Fiscal Years |
|
Postretirement
Heathcare
Benefits |
|
2010 |
|
$ |
68 |
|
2011 |
|
$ |
68 |
|
2012 |
|
$ |
68 |
|
2013 |
|
$ |
67 |
|
2014 |
|
$ |
66 |
|
2015-2019 |
|
$ |
351 |
|
