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Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2024, are shown below: Net loss
Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2024, are shown below: Net loss (gain)-AOCI, January 1 2024 loss (gain) on plan assets 2024 loss (gain) on PBO Accumulated benefit obligation, January 1 Projected benefit obligation, January 1 ($ in thousands) Case 1 Case 2 $ 330 $ (360) Case 3 279 (21) (33) (18) 8 26 (295) (3,050) (2,650) (1,550) (3,410) (2,770) (1,800) Fair value of plan assets, January 1 2,900 2,800 1,650 Average remaining service period of active employees (years) Required: 14 16 11 1. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2024. 2. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2025. Complete this question by entering your answers in the tabs below. Required Required 1 2 For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2024. Note: Enter your answer in thousands (i.e., 10,000 should be entered as 10). Net gain or loss Less: Corridor amount Excess, if any Service period (years) Amortization of gain or loss ($ in thousands) Case 1 $ 330 Case 2 $ 360 $ 279 Case 3 < Required 1 Required 2 > Show less
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