Jack In The Box 2012 Annual Report Download - page 61

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As of September 30, 2012 and October 2, 2011, 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 30, 2012 and October 2, 2011. 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
$466,097
$354,472
Accumulated benefit obligation
$458,493
$338,636
Fair value of plan assets
$311,988
$261,835

Projected benefit obligation
$63,156
$55,604
Accumulated benefit obligation
$60,602
$55,427
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
$9,068
$9,982
$11,726
Interest cost
19,891
18,557
17,704
Expected return on plan assets
(20,332)
(20,732)
(17,714)
Actuarial loss
11,871
8,518
9,969
Amortization of unrecognized prior service cost
—
—
124
Cost of VERP
6,167
—
—
Prior service cost due to curtailment
—
—
56
Net periodic benefit cost
$26,665
$16,325
$21,865

Service cost
$ 466
$ 806
$829
Interest cost
3,056
3,023
3,003
Actuarial loss
1,140
1,305
1,189
Amortization of unrecognized prior service cost
432
488
465
Net periodic benefit cost
$5,094
$5,622
$5,486

Service cost
$61
$ 80
$106
Interest cost
1,617
1,585
1,435
Actuarial loss
89
202
64
Amortization of unrecognized prior service cost
—
31
184
Net periodic benefit cost
$1,767
$1,898
$1,789
Prior service costs are amortized on a straight-line basis from date of participation to full eligibility. Unrecognized gains or losses are amortized using the
“corridor approach.” Under the corridor approach, the net gain or loss in excess of 10% of the greater of the PBO or the market-related value of the assets, if
applicable, is amortized on a straight-line basis over the remaining service period of plan participants expected to receive benefits.
F-21