AutoZone 2012 Annual Report Download - page 120

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60
The change in fair value of Level 3 assets that use significant unobservable inputs is presented in the following
table:
(in thousands)
Level 3
Assets
Beginning balance
–
August 27, 2011 ......................................................................................... $ 5,281
Actual return on plan assets:
Assets held at August 25, 2012 ................................................................................................ 55
Assets sold during the yea
r
....................................................................................................... 168
Sales and settlements ................................................................................................................... (3,100)
Ending balance
–
August 25, 2012 .............................................................................................. $ 2,404
The following table sets forth the plans’ funded status and amounts recognized in the Company’s Consolidated
Balance Sheets:
(in thousands)
August 25,
2012
August 27,
2011
Chan
g
e in Pro
j
ected Benefit Obli
g
ation:
Projected benefit obligation at beginning of year ...........................................
.
$241,645
$ 211,536
Interest cost .....................................................................................................
.
12,214 11,135
Actuarial losses ..............................................................................................
.
56,749 23,746
Benefits paid ..................................................................................................
.
(5,402) (4,772)
Benefit obligations at end of year ..................................................................
.
$305,206 $ 241,645
Change in Plan Assets:
Fair value of plan assets at beginning of year .................................................
.
$156,883
$ 117,243
Actual return on plan assets ............................................................................
.
14,505 10,336
Employer contributions ...................................................................................
.
15,423 34,076
Benefits paid ..................................................................................................
.
(5,402) (4,772)
Fair value of plan assets at end of year ...........................................................
.
$181,409 $ 156,883
Amount Recognized in the Statement of Financial Position:
Current liabilities ............................................................................................
.
$(30)
$ (27)
Long-term liabilities ........................................................................................
.
(123,767) (84,736)
Net amount recognized ...................................................................................
.
$ (123,797) $ (84,763)
Amount Recognized in Accumulated Other Comprehensive Loss and
not yet reflected in Net Periodic Benefit Cost:
Net actuarial loss .............................................................................................
.
$ (154,678) $ (106,972)
Accumulated other comprehensive loss ..........................................................
.
$ (154,678) $ (106,972)
Amount Reco
g
nized in Accumulated Other Comprehensive Loss and
not yet reflected in Net Periodic Benefit Cost and expected to be
amortized in next
y
ear’s Net Periodic Benefit Cost:
Net actuarial loss .............................................................................................
.
$(14,721) $ (9,795)
Amount recognized .........................................................................................
.
$(14,721) $ (9,795)
10-K