OfficeMax 2012 Annual Report Download - page 110

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The accumulated benefit obligation for all defined benefit pension plans was $1,280.5 million and $1,365.3
million for December 29, 2012 and December 31, 2011, respectively.
Information for pension plans with an accumulated benefit obligation in excess of plan assets is as follows:
Pension Benefits
2012 2011
(thousands)
Projected benefit obligation .............................................. $1,280,548 $1,365,281
Accumulated benefit obligation ........................................... 1,280,548 1,365,281
Fair value of plan assets ................................................. 979,133 1,035,731
Components of Net Periodic Benefit Cost (Income)
The components of net periodic benefit cost (income) are as follows:
Pension Benefits Other Benefits
2012 2011 2010 2012 2011 2010
(thousands)
Service cost ............................. $ 3,740 $ 2,546 $ 3,164 $ 292 $ 227 $ 263
Interest cost ............................. 64,688 70,176 74,213 936 1,006 1,213
Expected return on plan assets .............. (83,094) (79,289) (83,494) — — —
Recognized actuarial loss .................. 17,954 17,371 13,239 201 220 224
Amortization of prior service credits .........———(4,008) (4,009) (4,006)
Other .................................. — 80 149———
Net periodic benefit cost (income) ........... $ 3,288 $ 10,884 $ 7,271 $(2,579) $(2,556) $(2,306)
Other changes in plan assets and benefit obligations recognized in other comprehensive income are as
follows:
Pension Benefits Other Benefits
2012 2011 2012 2011
(thousands)
Accumulated other comprehensive (income) loss at beginning of
year ................................................ $548,212 $406,465 $(17,652) $(20,093)
Net loss (gain) .......................................... 7,610 159,118 1,819 (1,334)
Reduction due to settlement ............................... (56,367) — — —
Amortization of net loss .................................. (17,954) (17,371) (201) (220)
Amortization of prior service credits ........................ — — 4,008 4,009
Canadian rate adjustment ................................. — — 52 (14)
Accumulated other comprehensive (income) loss at end of year . . . $481,501 $548,212 $(11,974) $(17,652)
For the defined benefit pension plans, the estimated net loss that will be amortized from accumulated other
comprehensive loss into net periodic benefit cost over the next fiscal year is $21.3 million. For the other
postretirement benefit plans, the estimated net loss and prior service credit that will be amortized from
accumulated other comprehensive income (loss) into net periodic benefit cost over the next fiscal year is
$0.4 million and $4.0 million, respectively.
During 2012, our pension plans were amended to provide a one-time special election period during which
certain former employees, alternate payees, and beneficiaries could elect to have their pension benefits under the
Plan paid as an immediate lump sum payment or an immediately commencing annuity. Approximately 9,800
74