A company has a noncontributory, defined benefit pension plan. At December 31 of the current year, the company received the following information:

Projected Benefit Obligation	($ in millions)
Balance, January 1	$ 960
Service cost	82
Prior service cost	34
Interest cost (5.0%)	48
Benefits paid	(92)
Balance, December 31	$ 1,032

Plan Assets	($ in millions)
Balance, January 1	$ 450
Actual return on plan assets	50
Contributions current year	82
Benefits paid	(92)
Balance, December 31	$ 490

The expected long-term rate of return on plan assets was 10%. There were no AOCI balances related to pensions on January 1 of the current year. At the end of the current year, the company amended the pension formula creating a prior service cost of $34 million.

Required:

Determine the company's pension expense for the current year.

Prepare the journal entry(s) to record the companys (a) pension expense, (b) gains or losses, (c) prior service cost, (d) funding, and (e) payment of retiree benefits for the current year.