Jack In The Box 2012 Annual Report Download - page 60
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Obligations and funded status — The following table provides a reconciliation of the changes in benefit obligations, plan assets and funded status of our
retirement plans as of September 30, 2012 and October 2, 2011 (in thousands):
Obligation at beginning of year
$354,472
$321,941
$55,604
$53,505
$29,578
$27,819
Service cost
9,068
9,982
466
806
61
80
Interest cost
19,891
18,557
3,056
3,023
1,617
1,585
Participant contributions
—
—
—
—
134
143
Actuarial loss
98,120
10,954
6,767
1,391
6,574
1,763
Benefits paid
(21,621)
(6,962)
(3,404)
(3,121)
(1,512)
(1,812)
Other
—
—
667
—
855
—
Cost of VERP
6,167
—
—
—
—
—
Obligation at end of year
$466,097
$354,472
$63,156
$55,604
$37,307
$29,578
Fair value at beginning of year
$261,835
$270,819
$ —
$ —
$ —
$ —
Actual return on plan assets
53,174
(2,022)
—
—
—
—
Participant contributions
—
—
—
—
134
143
Employer contributions
18,600
—
3,404
3,121
523
1,669
Benefits paid and other
(21,621)
(6,962)
(3,404)
(3,121)
(657)
(1,812)
Fair value at end of year
$311,988
$261,835
$ —
$ —
$ —
$ —
$(154,109)
$(92,637)
$(63,156)
$(55,604)
$(37,307)
$(29,578)
Current liabilities
$ —
$ —
$(3,411)
$(3,381)
$(1,440)
$(1,395)
Noncurrent liabilities
(154,109)
(92,637)
(59,745)
(52,223)
(35,867)
(28,183)
Total liability recognized
$(154,109)
$(92,637)
$(63,156)
$(55,604)
$(37,307)
$(29,578)
Unamortized actuarial loss, net
$180,044
$126,638
$22,029
$16,401
$14,427
$7,942
Unamortized prior service cost
—
—
1,618
2,050
—
—
Total
$180,044
$126,638
$23,647
$18,451
$14,427
$7,942
Net actuarial loss
$65,278
$33,708
$6,767
$1,391
$6,574
$1,763
Amortization of actuarial loss
(11,871)
(8,518)
(1,140)
(1,305)
(89)
(202)
Amortization of prior service cost
—
—
(432)
(488)
—
(31)
Total recognized in OCI
53,407
25,190
5,195
(402)
6,485
1,530
Net periodic benefit cost and other losses
26,665
16,325
5,094
5,622
1,767
1,898
Total recognized in comprehensive income
$80,072
$41,515
$10,289
$5,220
$8,252
$3,428
Net actuarial loss
$15,665
$2,170
$791
Prior service cost
—
269
—
Total
$15,665
$2,439
$791
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.
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