Pep Boys 2013 Annual Report Download - page 137
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THE PEP BOYS—MANNY, MOE & JACK AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Years ended February 1, 2014, February 2, 2013 and January 28, 2012
NOTE 13—BENEFIT PLANS (Continued)
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 2,
(dollar amounts in thousands) 2013
Change in benefit obligation:
Benefit obligation at beginning of year .......................... $53,974
Interest cost ............................................. 2,170
Actuarial loss ............................................ 3,621
Settlements paid .......................................... (58,134)
Benefits paid ............................................ (1,631)
Benefit obligation at end of year .............................. $ —
Change in plan assets:
Fair value of plan assets at beginning of year ..................... $43,602
Actual return on plan assets (net of expenses) .................... 2,050
Employer contributions ..................................... 14,113
Settlements paid .......................................... (58,134)
Benefits paid ............................................ (1,631)
Fair value of plan assets at end of year ......................... $ —
Unfunded status at fiscal year end ............................ $ —
Net amounts recognized on consolidated balance sheet at fiscal year end
Noncurrent benefit liability (included in other long-term liabilities) ..... $ —
Net amount recognized at fiscal year end ........................ $ —
Amounts recognized in accumulated other comprehensive income
(pre-tax) at fiscal year end
Actuarial loss ............................................ $ —
Prior service cost ......................................... —
Net amount recognized at fiscal year end ........................ $ —
Other comprehensive (income) loss attributable to change in pension
liability recognition ...................................... $(15,433)
Accumulated benefit obligation at fiscal year end .................. $ —
Other information
Employer contributions expected in fiscal 2013 .................... $ —
Estimated actuarial loss and prior service cost amortization in fiscal 2013 $ —
Plan Assets and Investment Policy
Investment policies were established in accordance with the Company’s Benefits Committee (the
‘‘Committee’’) responsibilities to the participants of the Plan and its beneficiaries, and in accordance
with the Employee Retirement Income Security Act of 1974, as amended (‘‘ERISA’’). The objective of
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