Dillard's 2015 Annual Report Download - page 63

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F-21
The components of net periodic benefit costs are as follows:
(in thousands of dollars) Fiscal 2015 Fiscal 2014 Fiscal 2013
Components of net periodic benefit costs:
Service cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,932 $ 4,396 $ 4,237
Interest cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,736 7,644 6,782
Net actuarial loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,697 2,660 3,012
Amortization of prior service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ——96
Plan curtailment gain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ——
(1,480)
Net periodic benefit costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 14,365 $ 14,700 $ 12,647
Other changes in benefit obligations recognized in other comprehensive
(income) loss:
Net actuarial (gain) loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(22,485) $ 11,190 $ (4,225)
Amortization of prior service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ——
(96)
Total recognized in other comprehensive (income) loss . . . . . . . . . . . . . . $(22,485) $ 11,190 $ (4,321)
Total recognized in net periodic benefit costs and other comprehensive
income or loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(8,120) $ 25,890 $ 8,326
The estimated future benefits payments for the nonqualified benefit plan are as follows:
(in thousands of dollars)
Fiscal Year
2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,027 *
2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,039
2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,453
2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,515
2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,291
2021 - 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57,258
Total payments for next ten fiscal years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 89,583
___________________________________
* The estimated benefit payment for fiscal 2016 also represents the amount the Company expects to contribute to the Pension
Plan for fiscal 2016.
9. Stockholders' Equity
Capital stock is comprised of the following:
Type
Par
Value
Shares
Authorized
Preferred (5% cumulative) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 100.00 5,000
Additional preferred . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.01 10,000,000
Class A, common . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.01 289,000,000
Class B, common . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.01 11,000,000
Holders of Class A are empowered as a class to elect one-third of the members of the Board of Directors, and the holders
of Class B are empowered as a class to elect two-thirds of the members of the Board of Directors. Shares of Class B are
convertible at the option of any holder thereof into shares of Class A at the rate of one share of Class B for one share of
Class A.
During fiscal 2015, the Company issued 528 shares of Class A Common Stock in exchange for 528 shares of Class B
Common Stock tendered for conversion pursuant to the Certificate of Incorporation.