Jack In The Box 2009 Annual Report Download - page 62

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Table of Contents


Additional year-end pension plan information — The pension benefit obligation (“PBO”) is the actuarial present value of benefits
attributable to employee service rendered to date, including the effects of estimated future pay increases. The accumulated benefit
obligation (“ABO”) also reflects the actuarial present value of benefits attributable to employee service rendered to date, but does not
include the effects of estimated future pay increases. Therefore, the ABO as compared to plan assets is an indication of the assets
currently available to fund vested and nonvested benefits accrued through the end of the fiscal year. The funded status is measured as the
difference between the fair value of a plan’s assets and its PBO.
As of September 27, 2009, the qualified plan’s ABO exceeded the fair value of its plan assets. The non-qualified plan is an
unfunded plan and, as such, had no plan assets as of September 27, 2009 and June 30, 2008. The following sets forth the PBO, ABO
and fair value of plan assets of our pension plans as of the measurement date in each year (in thousands):
 

Projected benefit obligation $290,469 $ 212,027
Accumulated benefit obligation 254,470 184,295
Fair value of plan assets 231,584 228,772

Projected benefit obligation $ 49,445 $ 40,634
Accumulated benefit obligation 46,875 39,058
Fair value of plan assets — —
Net periodic benefit cost — The components of the fiscal year net periodic benefit cost were as follows (in thousands):
  

Service cost $ 9,045 $ 10,427 $ 9,846
Interest cost 15,334 14,539 13,201
Expected return on plan assets (17,485) (17,010) (14,541)
Actuarial loss 55 971 2,257
Amortization of unrecognized prior service cost 124 124 124
Net periodic benefit cost $ 7,073 $ 9,051 $ 10,887

Service cost $ 641 $ 802 $ 734
Interest cost 2,907 2,552 2,401
Actuarial loss 396 533 404
Amortization of unrecognized prior service cost 707 733 707
Amortization of unrecognized net transition obligation — — 95
Net periodic benefit cost $ 4,651 $ 4,620 $ 4,341

Service cost $ 99 $ 222 $ 213
Interest cost 1,199 1,176 1,081
Actuarial gain (964) (821) (930)
Amortization of unrecognized prior service cost 185 185 185
Net periodic benefit cost $ 519 $ 762 $ 549
F-23