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This excerpt taken from the HBI 10-Q filed Nov 5, 2007. Pension
and Other Postretirement Benefits
In September 2006, the FASB issued SFAS No. 158,
Employer’s Accounting for Defined Benefit Pension and Other
Postretirement Plans (an amendment of FASB Statements
No. 87, 88, 106, and 132R), or “SFAS 158.”
SFAS 158 requires an employer to recognize in its statement
of financial position an asset for a plan’s overfunded
status, or a liability for a plan’s underfunded status,
measure a plan’s assets and its obligations that determine
its funded status as of the end of the employer’s fiscal
year (with limited exceptions), and recognize changes in the
funded status of a defined benefit postretirement plan in the
year in which the changes occur. Those changes will be reported
in accumulated other comprehensive loss and as a separate
component of stockholders’ equity. We adopted the provision
to recognize the funded status of a benefit plan and the
disclosure requirements during the six months ended
December 30, 2006. The requirement to measure plan assets
and benefit obligations as of the date of the employer’s
fiscal year-end is effective for fiscal years ending after
December 15, 2008. We plan to adopt the measurement date
provision in fiscal 2007.
This excerpt taken from the HBI 10-Q filed Aug 3, 2007. Pension
and Other Postretirement Benefits
In September 2006, the FASB issued SFAS No. 158,
Employer’s Accounting for Defined Benefit Pension and Other
Postretirement Plans (an amendment of FASB Statements
No. 87, 88, 106, and 132R), or “SFAS 158.”
SFAS 158 requires an employer to recognize in its statement
of financial position an asset for a plan’s over funded
status, or a liability for a plan’s under funded status,
measure a plan’s assets and its obligations that determine
its funded status as of the end of the employer’s fiscal
year (with limited exceptions), and recognize changes in the
funded status of a defined benefit postretirement plan in the
year in which the changes occur. Those changes will be reported
in accumulated other comprehensive loss and as a separate
component of stockholders’ equity. We adopted the provision
to recognize the funded status of a benefit plan and the
disclosure requirements during the six months ended
December 30, 2006. The requirement to measure plan assets
and benefit obligations as of the date of the employer’s
fiscal year-end is effective for fiscal years ending after
December 15, 2008. We plan to adopt the measurement date
provision in fiscal 2007.
This excerpt taken from the HBI 10-Q filed May 14, 2007. Pension
and Other Postretirement Benefits
In September 2006, the FASB issued SFAS No. 158,
Employer’s Accounting for Defined Benefit Pension and Other
Postretirement Plans (an amendment of FASB Statements
No. 87, 88, 106, and 132R), or “SFAS 158.”
SFAS 158 requires an employer to recognize in its statement
of financial position an asset for a plan’s over funded
status, or a liability for a plan’s under funded status,
measure a plan’s assets and its obligations that determine
its funded status as of the end of the employer’s fiscal
year (with limited exceptions), and recognize changes in the
funded status of a defined benefit postretirement plan in the
year in which the changes occur. Those changes will be reported
in our comprehensive loss and as a separate component of
stockholders’ equity. We adopted the provision to recognize
the funded status of a benefit plan and the disclosure
requirements during the six months ended December 30, 2006.
The requirement to measure plan assets and benefit obligations
as of the date of the employer’s fiscal year-end is
effective for fiscal years ending after December 15, 2008.
We plan to adopt the measurement date provision in 2007.
Table of Contents
This excerpt taken from the HBI 10-Q filed Nov 13, 2006. Pension
and Other Postretirement Benefits
In September 2006, the FASB issued SFAS No. 158,
Employer’s Accounting for Defined Benefit Pension and Other
Postretirement Plans (an amendment of FASB Statements
No. 87, 88, 106, and 132R), or “SFAS 158.”
SFAS 158 requires an employer to recognize in its statement
of financial position an asset for a plan’s over funded
status, or a liability for a plan’s under funded status,
measure a plan’s assets and its obligations that determine
its funded status as of the end of the employer’s fiscal
year (with limited exceptions), and recognize changes in the
funded status of a defined benefit postretirement plan in the
year in which the changes occur. Those changes will be reported
in our comprehensive income and as a separate component of
stockholders’ equity. The requirement to recognize the
funded status of a benefit plan and the disclosure requirements
are effective as of the end of the fiscal year ending after
December 15, 2006. The requirement to measure plan assets
and benefit obligations as of the date of the employer’s
fiscal year-end is
Table of Contents
effective for fiscal years ending after December 15, 2008.
We are evaluating the impact of SFAS 158 on our results of
operations and financial condition.
There have been no significant changes in our market risk
exposures from those described in Item 7A of our Annual
Report on
Form 10-K
for the fiscal year ended July 1, 2006.
As required by Exchange Act
Rule 13a-15(b),
our management, including the Chief Executive Officer and Chief
Financial Officer, conducted an evaluation of the effectiveness
of our disclosure controls and procedures, as defined in
Exchange Act
Rule 13a-15(e),
as of as of the end of the period covered by this report. Based
on that evaluation, the Chief Executive Officer and Chief
Financial Officer concluded that our disclosure controls and
procedures were effective.
In connection with the evaluation required by Exchange Act
Rule 13a-15(d),
our management, including the Chief Executive Officer and Chief
Financial Officer, concluded that no changes in our internal
control over financial reporting occurred during the period
covered by this report that have materially affected, or are
reasonably likely to materially affect, our internal control
over financial reporting.
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