OfficeMax 2007 Annual Report Download - page 80

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Obligations and Funded Status
The changes in pension and other postretirement benefit obligations and plan assets during
2007 and 2006, as well as the funded status of the Company’s plans at December 29, 2007 and
December 30, 2006, were as follows:
Pension Benefits Other Benefits
2007 2006 2007 2006
(thousands)
Change in benefit obligation:
Benefit obligation at beginning of year ........ $1,381,555 $ 1,382,760 $ 31,789 $ 31,523
Service cost ........................... 1,676 1,600 341 870
Interest cost ........................... 77,084 74,679 1,353 1,583
Amendments .......................... — — (6,191) —
Actuarial (gain) loss ..................... (67,511) 20,007 (4,717) (180)
Changes due to exchange rates ............ — — 3,390 35
Transfers and immediate recognition ......... — 6,158 — —
Benefits paid .......................... (100,781) (103,649) (1,684) (2,042)
Benefit obligation at end of year ............ $1,292,023 $1,381,555 $ 24,281 $ 31,789
Change in plan assets:
Fair value of plan assets at beginning of year . . . $ 1,183,275 $ 1,146,596 $ — $ —
Actual return on plan assets ............... 82,816 130,690 — —
Employer contributions ................... 19,137 9,638 1,684 2,042
Benefits paid .......................... (100,781) (103,649) (1,684) (2,042)
Fair value of plan assets at end of year ....... $1,184,447 $1,183,275 $ — $ —
Funded status ......................... $ (107,576) $ (198,280) $ (24,281) $ (31,789)
Unrecognized actuarial loss ................ 253,923 335,444 5,584 10,220
Unrecognized transition obligation ........... — — — 4,947
Unrecognized prior service cost (benefit) ...... — — (38,176) (41,845)
Net amount recognized ................... $ 146,347 $ 137,164 $(56,873) $(58,467)
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