Safeway 2012 Annual Report Download - page 85

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SAFEWAY INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
73
A reconciliation of the beginning and ending balances for Level 3 assets for the year ended December 31,
2011 follows (in millions):
Fair Value Measured Using Significant
Unobservable Inputs (Level 3)
Total
Corporate
bonds
U.S.
government
securities
Balance, beginning of year $ 3.8 $ 3.1 $ 0.7
Purchases, sales, settlements, net (0.5) 0.1 (0.6)
Unrealized gains (0.5) (0.5) —
Balance, end of year $ 2.8 $ 2.7 $ 0.1
Contributions Safeway expects to contribute approximately $94.0 million to its defined benefit pension
plan and post-retirement benefit plans in 2013.
Estimated Future Benefit Payments The following benefit payments, which reflect expected future
service as appropriate, are expected to be paid (in millions):
Pension
benefits
Other
benefits
2013 $ 129.2 $ 8.3
2014 132.6 8.6
2015 136.4 9.0
2016 140.7 9.3
2017 144.4 9.7
2018 – 2022 759.0 51.7
Multiemployer Pension Plans Safeway contributes to a number of multiemployer defined benefit pension
plans in the U.S. and Canada under the terms of collective bargaining agreements that cover its union-
represented employees. Benefits generally are based on a fixed amount for each year of service, and, in
some cases, are not negotiated with contributing employers or in some cases even known by contributing
employers. None of the Company's collective bargaining agreements require that a minimum contribution
be made to these plans. The Company made and charged to expense the following contributions to these
plans (in millions):
2012 2011 2010
United States plans $ 261.3 $ 262.7 $ 245.4
Canadian plans 48.7 49.5 46.9
Total $ 310.0 $ 312.2 $ 292.3
Additionally, the Company had incurred a partial withdrawal from the United Food and Commercial Workers
Unions and Employers Midwest Pension Plan for which it was assessed in 2011. As a result, the Company
expensed $6.6 million in 2011, began making monthly payments in September 2011 and continued making
monthly payments of $0.3 million through 2012.