Jack In The Box 2012 Annual Report Download - page 65
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The following table presents the changes in Level 3 investments for the qualified plan during 2011 and 2012 (in thousands):
$ 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)
$ —
$8,415
$8,415
Actual return on plan assets:
Relating to assets still held at the reporting date
$ —
$2,513
$2,513
Relating to assets sold during the period
—
(15)
(15)
Purchases, sales and settlements
—
14,872
14,872
$ —
$25,785
$25,785
Future cash flows — Our policy is to fund our plans at or above the minimum required by law. As of the date of our last actuarial funding valuation, there
was no minimum requirement. Contributions expected to be paid in the next fiscal year and the projected benefit payments for each of the next five fiscal years
and the total aggregate amount for the subsequent five fiscal years are as follows ( in thousands):
Estimated net contributions during fiscal 2013
$18,411
$1,440
Estimated future year benefit payments during fiscal years:
2013
$14,623
$1,440
2014
$14,859
$1,524
2015
$15,076
$1,613
2016
$15,447
$1,706
2017
$16,222
$1,840
2018-2022
$94,876
$11,163
We will continue to evaluate contributions to our qualified pension plan based on changes in pension assets as a result of asset performance in the current
market and economic environment. Expected benefit payments are based on the same assumptions used to measure our benefit obligation at September 30,
2012 and include estimated future employee service.
Stock incentive plans — We offer share-based compensation plans to attract, retain and motivate key officers, employees and non-employee directors to work
toward the financial success of the Company.
Our stock incentive plans are administered by the Compensation Committee of the Board of Directors and have been approved by the stockholders of the
Company. The terms and conditions of our share-based awards are determined by the Compensation Committee on each award date and may include
provisions for the exercise price, expirations, vesting, restriction on sales and forfeitures, as applicable. We issue new shares to satisfy stock issuances under
our stock incentive plans.
Our Amended and Restated 2004 Stock Incentive Plan authorizes the issuance of up to 11,600,000 common shares in connection with the granting of stock
options, stock appreciation rights, restricted stock purchase rights, restricted stock bonuses, restricted stock units or performance units to key employees and
directors. As of September 30, 2012, 3,774,637 shares of common stock were available for future issuance under this plan.
There are three other plans under which we can no longer issue awards, although awards outstanding under these plans may still vest and be exercised: the
1993 Stock Option Plan, the 2002 Stock Incentive Plan and the Non-Employee Director Stock Option Plan.
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