APAC » Topics » Accounting for employee benefits

This excerpt taken from the APAC 10-K filed Mar 16, 2007.
Accounting for employee benefits
 
The Company records a liability for group health and workers’ compensation claims based on an estimate of claims incurred, but not reported, as well as asserted claims at the end of the reporting period. This estimate is derived from


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Table of Contents

 
APAC CUSTOMER SERVICES, INC.
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
(Dollars in thousands, except share data and as otherwise indicated)

an analysis performed by actuaries hired by the Company who have expertise in this area. Changes in the employee mix and unforeseen events could result in an adjustment to these estimates.
 
The balances of these accounts, which are included in accrued liabilities, at December 31, 2006 and January 1, 2006, were:
 
                 
    2006     2005  
 
Group Health Insurance
  $ 1,220     $ 2,268  
Workers’ Compensation
  $ 2,705     $ 3,010  
 
This excerpt taken from the APAC 10-K filed Mar 17, 2006.

Accounting for employee benefits

The Company records an accrued liability for group health and workers' compensation claims based on an estimate of claims incurred, but not reported, as well as asserted claims at the end of the reporting period. This estimate is derived from an analysis performed by actuaries hired by the Company who have expertise in this area. Although these estimates are generally reliable, changes in the employee mix and unforeseen events could result in an adjustment to these estimates.

The balances of these accounts at January 1, 2006 and January 2, 2005, were:

 
  2005
  2004
Group Health Insurance   $ 2,268   $ 2,512
Workers' Compensation   $ 3,010   $ 3,122
This excerpt taken from the APAC 10-Q filed Nov 10, 2005.

Accounting for employee benefits

 

The Company records an accrued liability for group health and workers’ compensation claims based on an estimate of claims incurred, but not reported, as well as asserted claims at the end of the period. This estimate is derived from an analysis performed by actuaries hired by the Company who have expertise in this area.  Although these estimates are generally reliable, changes in the employee mix and unforeseen events could result in an adjustment to these estimates.

 

15



 

The balances of these accounts at October 2, 2005, and September 26, 2004, were:

 

 

 

(in thousands)

 

 

 

2005

 

2004

 

Group Health Insurance

 

$

2,388

 

$

2,665

 

Workers’ Compensation

 

$

3,074

 

$

3,149

 

 

The decrease in group health insurance from September 26, 2004, is primarily due to a reduction in the level of employee participation in the health insurance plan offered by the Company.

 

This excerpt taken from the APAC 10-Q filed Aug 10, 2005.

Accounting for employee benefits

 

The Company records an accrued liability for group health and workers compensation claims based on an estimate of claims incurred, but not reported, as well as asserted claims at the end of the period. This estimate is derived from an analysis performed by actuaries hired by the Company who have expertise in this area.  Although these estimates are generally reliable, changes in the employee mix and unforeseen events could result in an adjustment to these estimates.

 

The balances of these accounts at July 3, 2005, and June 27, 2004, were:

 

 

 

(in thousands)

 

 

 

2005

 

2004

 

Group Health Insurance

 

$

2,431

 

$

2,905

 

Workers Compensation

 

$

3,134

 

$

3,092

 

 

The decrease in group health insurance from June 27, 2004, is primarily due to a reduction in the level of employee participation in the health insurance plan offered by the Company.

 

16



 

This excerpt taken from the APAC 10-Q filed May 13, 2005.

Accounting for employee benefits

 

The Company records an accrued liability for group health and workers compensation claims based on an estimate of claims incurred, but not reported, as well as asserted claims at the end of the period. This estimate is derived from an analysis performed by actuaries hired by the Company who have expertise in this area.  Although these estimates are generally reliable, changes in the employee mix and unforeseen events could result in an adjustment to these estimates.

 

The balances of these accounts at April 3, 2005, and March 28, 2004, were:

 

 

 

(in thousands)

 

 

 

2005

 

2004

 

Group Health Insurance

 

$

2,500

 

$

3,519

 

Workers Compensation

 

$

3,254

 

$

3,097

 

 

14



 

The decrease in group health insurance from March 28, 2004 is primarily due to a reduction in the level of employee participation in the health insurance plan offered by the Company.

 

This excerpt taken from the APAC 10-K filed Mar 16, 2005.

Accounting for employee benefits

        The Company records an accrued liability for group health and workers compensation claims based on an estimate of claims incurred, but not reported, as well as asserted claims at the end of the period. This estimate is derived from an analysis performed by actuaries hired by the Company who have expertise in this area. However, although these estimates are generally reliable, changes in the employee mix and unforeseen events could result in an adjustment to these estimates.

        The balances of these accounts at January 2, 2005, and December 28, 2003, were:

 
  2004
  2003
Group Health Insurance   $ 2,512   $ 3,175
Workers Compensation     3,122     3,097
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