Pep Boys 2006 Annual Report Download - page 101

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THE PEP BOYS—MANNY, MOE & JACK AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Years ended February 3, 2007, January 28, 2006 and January 29, 2005
(dollar amounts in thousands, except share data)
62
The following table sets forth the reconciliation of the benefit obligation, fair value of plan assets and
funded status of the Company’s defined benefit plans:
Year ended
February 3,
2007
January 28,
2006
Change in Benefit Obligation:
Benefitobligationatbeginningofyear................................................ $ 54,349 $ 52,384
Servicecost..................................................................... 246 363
Interestcost .................................................................... 3,071 3,011
Settlementloss.................................................................. — 82
Actuarialloss ................................................................... 1,446 2,749
Benefitspaid.................................................................... (1,498) (4,240)
BenefitObligationatEndofYear................................................... $ 57,614 $ 54,349
Change in Plan Assets:
Fairvalueofplanassetsatbeginningofyear........................................... $ 35,292 $ 35,508
Actualreturnonplanassets(netofexpenses).......................................... 3,392 1,043
Employercontributions ........................................................... 308 2,981
Benefitspaid.................................................................... (1,498) (4,240)
FairValueofPlanAssetsatEndofYear.............................................. $ 37,494 $ 35,292
Funded (Unfunded) status at December 31 ............................................ $(20,120) $(19,057)
Funded (Unfunded) Status at Fiscal Year End
Funded (Unfunded) status at December 31 ............................................ $(20,120) $(19,057)
Amountcontributedaftermeasurementdate........................................... 221 25
Funded (Unfunded) status at fiscal year end ........................................... $(19,899) $(19,032)
Net Amounts Recognized on Consolidated Balance Sheet at February 3, 2007
Currentbenefitliability(includedinaccruedexpenses)................................... $ (2,950)
Noncurrentbenefitliability(includedinotherlong-termliabilities) ......................... (16,949)
Netamountrecognizedatfiscalyearend.............................................. $(19,899)
Reconciliation of the Funded Status at January 28, 2006
Funded (Unfunded) status at fiscal year end ........................................... $(19,032)
Unrecognizedtransitionobligation................................................... 817
Unrecognizedpriorservicecost..................................................... 1,358
Unrecognizedactuarialloss ........................................................ 14,828
Netamountrecognizedatfiscalyearend.............................................. $ (2,029)
Net Amounts Recognized on Consolidated Balance Sheet at January 28, 2006
Accruedbenefitliability........................................................... $(15,112)
Intangibleasset.................................................................. 2,174
Accumulatedothercomprehensiveloss............................................... 10,909
Netamountrecognizedatfiscalyearend.............................................. $ (2,029)
Amounts Recognized in Other Comprehensive Income (pre-tax) at February 3, 2007
Netloss........................................................................ $ 13,276
Priorservicecost................................................................. 1,650
Netamountrecognizedatfiscalyearend.............................................. $ 14,926
Other Comprehensive Loss Attributable to change in Additional Minimum Liability Recognition.. $3,467 $ 35
Accumulated Benefit Obligation at Fiscal Year End ..................................... $54,379 $50,404
Cash Flows
Employercontributionsexpectedduringfiscal2007...................................... $ 1,258 $ 1,417