Question
30 The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC). Plan Prior Service Net Pension Net Pension ($ in
30 The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC). Plan Prior Service Net Pension Net Pension ($ in millions) Debit (Credit) PBO Assets Cost (Gain)Loss Expense Cash (Liability)/Asset Beginning balance (500) 58 Service cost 62 Interest cost Expected return on assets (23) Gain/loss on assets (2) Amortization of: Prior service cost (6) Net gain/loss Loss on PBO (25) 25 Contributions to fund (56) Retiree benefits paid 43 (43) Ending balance (574) 288 54 78 (286) What is OTC's pension expense for the year?
A. $78 millions. B. $72 millions. C. $66 millions. D. $18 millions.
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