LensCrafters 2009 Annual Report Download - page 86

Download and view the complete annual report

Please find page 86 of the 2009 LensCrafters annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

> 84 | ANNUAL REPORT 2009
The accumulated benefi t obligations for the pension plans and SERPs as of December 31, 2009, 2008 and
September 30, 2007 were as follows (thousands of Euros):
Pension Plans SERP
2009 2008 2007 2009 2008 2007
Accumulated benefi t obligations 315,846 288,828 245,829 11,057 10,124 7,989
Components of Net Periodic Benefi t Cost and Other
Amounts Recognized in Other Comprehensive Income
Net Periodic Benefi t Cost:
Service cost 18,443 17,333 16,449 466 543 504
Interest cost 19,476 16,968 15,606 662 696 589
Expected return on plan assets (20,060) (17,256) (16,703)
Amortization of actuarial loss 2,411 1,174 2,640 169 342 413
Amortization of prior service cost 54 52 547 4 (9) 9
Net periodic benefi t cost 20,324 18,271 18,539 1,301 1,572 1,515
Adjustment due to change in measurement date 4,568 397
Other Changes in Plan Assets and Benefi t Obligations
Recognized in Other Comprehensive Income:
Net loss (gain) (16,983) 77,303 (9,191) (1,142) 92 1,871
Prior service cost
Amortization of actuarial loss (2,411) (1,467) (2,640) (169) (427) (413)
Amortization of prior service cost (54) (64) (547) (4) (11) (9)
Total recognized in other comprehensive income (19,448) 75,772 (12,378) (1,315) (346) 1,449
TOTAL 876 98,611 6,161 (14) 1,623 2,964
The estimated net loss and prior service cost for the defi ned benefi t pension plans that will be amortized
from accumulated OCI into net periodic benefi t cost over the next fi scal year are Euro 3.0 million and Euro
0.0 million, respectively. The estimated net loss and prior service cost for the SERPs that will be amortized
from accumulated OCI into net periodic benefi t cost over the next fi scal year are Euro 0.1 million and Euro
0.0 million, respectively.