Jack In The Box 2011 Annual Report Download - page 59
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Table of Contents
The following table summarizes, as of October 2, 2011, the estimated amortization expense for each of the next five fiscal years (in thousands):
2012 $ 849
2013 808
2014 769
2015 748
2016 724
Total $ 3,898
Financial assets and liabilities — The following tables present the financial assets and liabilities measured at fair value on a recurring basis as of
October 2, 2011 and October 3, 2010 (in thousands):
Non-qualified deferred compensation plan (1) $ (34,288) $ (34,288) $ - $ -
Interest rate swaps (Note 6) (2) (2,682) - (2,682) -
Total liabilities at fair value $ (36,970) $ (34,288) $ (2,682) $-
Non-qualified deferred compensation plan (1) $(36,011) $(36,011) $- $ -
Interest rate swaps (Note 6) (2) (733) - (733) -
Total liabilities at fair value $(36,744) $(36,011) $(733) $-
(1) We maintain an unfunded defined contribution plan for key executives and other members of management excluded from participation in our qualified savings plan. The fair value of this obligation is
based on the closing market prices of the participants’ elected investments.
(2) We entered into interest rate swaps to reduce our exposure to rising interest rates on our variable debt. The fair value of our interest rate swaps are based upon valuation models as reported by our
counterparties.
The fair values of each of our long-term debt instruments are based on quoted market values, where available, or on the amount of future cash flows
associated with each instrument, discounted using our current borrowing rate for similar debt instruments of comparable maturity. The estimated fair
values of our term loan and capital lease obligations approximated their carrying values as of October 2, 2011.
F-15