Jack In The Box 2011 Annual Report Download - page 73
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Table of Contents
(4) Asset-backed securities are comprised of collateralized obligations and mortgage-backed securities, which are valued by the trustee using observable, market-based inputs.
(5) Corporate bonds are comprised of mutual funds traded on national securities exchanges, valued at unadjusted quoted market prices, as well as securities traded in markets that are not considered active,
which are valued based on quoted market prices, broker/dealer quotations, or alternative pricing sources with reasonable levels of price transparency. Securities that trade infrequently and therefore have little
or no price transparency are valued using the investment manager’s best estimate.
(6) Non-government backed securities are comprised of collateralized obligations and mortgage-back securities, which the trustee values using observable, market-based inputs.
(7) Government and mortgage securities are comprised of government and municipal bonds, including treasury bills, notes and index linked bonds which are valued using an unadjusted quoted price in an
active market or observable, market-based inputs.
(8) Other fixed income securities are comprised of other commingled funds invested in registered securities which are valued at the unadjusted quoted price in an active market or exchange.
(9) Interest rate swaps are derivative instruments used to reduce exposure to the impact of changing interest rates and are valued using observable, market-based inputs.
(10) Real estate is investments in a real estate investment trust for purposes of total return. These investments are valued at unit values provided by the investment managers and their consultants.
The following table presents the changes in Level 3 investments for the qualified plan during 2011 (in thousands):
Beginning balance at October 3, 2010 $ 69 $ 7,054 $ 7,123
Actual return on plan assets:
Relating to assets still held at the reporting date - 1,468 1,468
Relating to assets sold during the period 12 (33) (21)
Purchases, sales, and settlements (81) (74) (155)
Ending balance at October 2, 2011 $ - $ 8,415 $ 8,415
The following table presents the changes in Level 3 investments for the qualified plan during 2010 (in thousands):
Beginning balance at September 27, 2009 $ 96 $ 542 $ 192 $ 6,872 $ 7,702
Actual return on plan assets:
Relating to assets still held at the reporting date 13 104 24 331 472
Relating to assets sold during the period - 7 - (40) (33)
Purchases, sales, and settlements - (242) (21) (109) (372)
Transfers in and/or out of Level 3 (40) (411) (195) - (646)
Ending balance at October 3, 2010 $ 69 $ - $ - $ 7,054 $ 7,123
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