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Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data...

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Accounting

Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2024, are shown below:

($ in thousands)
Case 1 Case 2 Case 3
Net loss (gain)AOCI, January 1 $ 339 $ (417) 289
2024 loss (gain) on plan assets (30) (27) 4
2024 loss (gain) on PBO (42) 35 (298)
Accumulated benefit obligation, January 1 (3,140) (2,740) (1,640)
Projected benefit obligation, January 1 (3,500) (2,860) (1,890)
Fair value of plan assets, January 1 2,990 2,890 1,740
Average remaining service period of active employees (years) 14 16 10

Required:

  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.
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2. For each independent case, determine the net lossAOCI or net gainAOCI as of January 1, 2025.

image

\begin{tabular}{|c|c|c|c|c|c|c|} \hline \multirow{3}{*}{ January 1, 2024 net loss (gain) } & \multicolumn{6}{|c|}{ (\$ in thousands) } \\ \hline & \multicolumn{2}{|c|}{ Case 1} & \multicolumn{2}{|c|}{\begin{tabular}{ll} Case 2 & \end{tabular}} & \multicolumn{2}{|c|}{ Case 3} \\ \hline & $ & 339 & $ & (417) & $ & 289 \\ \hline \multicolumn{7}{|l|}{ Loss (gain) on plan assets } \\ \hline \multicolumn{7}{|l|}{ Amortization } \\ \hline \multicolumn{7}{|l|}{ Loss (gain) on PBO } \\ \hline January 1,2025 net loss or (gain) AOCl & $ & 339 & $ & (417) & $ & 289 \\ \hline \end{tabular}
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